Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session.
BTC/USD fell to a low of $22,657.58 earlier in the day, less than 24 hours after hitting a high of $23,296.53.
The move comes as traders appear to have secured gains from recent surges in price, and ahead of the upcoming Federal Reserve policy decision.
As can be seen from the chart, today’s drop saw BTC move closer to a price floor at $22,500, with the relative strength index (RSI) hitting a floor of its own.
Currently, the index is now tracking at 68.78, which is marginally above its long-term support point of 68.00.
Although a ceiling of 77.00 could be the target for bulls who rejected an earlier breakout, it is likely that prices could consolidate until the dust settles from this week’s fundamentals.
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 ) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session.
BTC/USD fell to a low of $22,657.58 earlier in the day, less than 24 hours after hitting a high of $23,296.53.
The move comes as traders appear to have secured gains from recent surges in price, and ahead of the upcoming Federal Reserve policy decision.
As can be seen from the chart, today’s drop saw BTC move closer to a price floor at $22,500, with the relative strength index (RSI) hitting a floor of its own.
Currently, the index is now tracking at 68.78, which is marginally above its long-term support point of 68.00.
Although a ceiling of 77.00 could be the target for bulls who rejected an earlier breakout, it is likely that prices could consolidate until the dust settles from this week’s fundamentals.
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
