Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) fell for a fifth straight session on Thursday as markets continued to react to the Silvergate Bank liquidation.
The bank confirmed that it would be ceasing its operations, leading US Senator Elizabeth Warren to blame crypto entirely.
Therefore, less than 24 hours after hitting $21,796.12, BTC/USD fell to a low of $19,669.92 earlier today.
The drop in price pushed bitcoin to its weakest point since January 13, when it hit a low of $18,714.
Another catalyst for the selloff was the 14-day Relative Strength Index (RSI), which broke below a key low of 32.00.
At the time of writing, the index is tracking at 26.11, deep in oversold territory, and the lowest reading in price strength since November 9.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
CHART ANALYSIS:-Bitcoin ( BTC ) fell for a fifth straight session on Thursday as markets continued to react to the Silvergate Bank liquidation.
The bank confirmed that it would be ceasing its operations, leading US Senator Elizabeth Warren to blame crypto entirely.
Therefore, less than 24 hours after hitting $21,796.12, BTC/USD fell to a low of $19,669.92 earlier today.
The drop in price pushed bitcoin to its weakest point since January 13, when it hit a low of $18,714.
Another catalyst for the selloff was the 14-day Relative Strength Index (RSI), which broke below a key low of 32.00.
At the time of writing, the index is tracking at 26.11, deep in oversold territory, and the lowest reading in price strength since November 9.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
