Hello, welcome to this BITCOIN /USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin (BTC) neared a breakout below 27,000 on Wednesday, as markets reacted to the latest data surrounding consumer confidence in the United States.
Following a high of 28,037.69 on Tuesday, BTC/USD slipped to an intraday low of 27,009.69 earlier in the day.
The downturn comes as momentum in the market has slightly shifted, with the global crypto market cap falling by 2.59% as of writing.
today’s decline in BTC comes despite an upcoming crossover between the 10-day (red) and 25-day (blue) moving averages.
it appears that a failed breakout of a ceiling at 53.00 on the relative strength index (RSI) played a significant role in this.
The index is now tracking close to a floor at 46.00, with a current reading of 47.10, and should this hold, a reversal is still possible.
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) neared a breakout below 27,000 on Wednesday, as markets reacted to the latest data surrounding consumer confidence in the United States.
Following a high of 28,037.69 on Tuesday, BTC/USD slipped to an intraday low of 27,009.69 earlier in the day.
The downturn comes as momentum in the market has slightly shifted, with the global crypto market cap falling by 2.59% as of writing.
today’s decline in BTC comes despite an upcoming crossover between the 10-day (red) and 25-day (blue) moving averages.
it appears that a failed breakout of a ceiling at 53.00 on the relative strength index (RSI) played a significant role in this.
The index is now tracking close to a floor at 46.00, with a current reading of 47.10, and should this hold, a reversal is still possible.
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
