Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) consolidated for a third straight day, as traders continued to secure gains from Saturday when prices rose to a five-month high.
Despite consolidating, BTC/USD remained above $23,000 for most of today’s session, hitting a high of $23,134.01 in the process.
This comes less than 24 hours after it was trading at a low of $22,654.30, which is near short-term support at $22,500.
Looking at the chart, BTC is currently trading at $22,913.54, and this comes as the 14-day relative strength index (RSI) neared a ceiling of 86.00.
At the time of writing, the index is tracking at a level of 85.09, with a floor of 80.00 another possible destination for traders.
The 10-day (red) moving average has also begun to show signs of peaking, which could lead to a sudden shift in momentum.
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 ) consolidated for a third straight day, as traders continued to secure gains from Saturday when prices rose to a five-month high.
Despite consolidating, BTC/USD remained above $23,000 for most of today’s session, hitting a high of $23,134.01 in the process.
This comes less than 24 hours after it was trading at a low of $22,654.30, which is near short-term support at $22,500.
Looking at the chart, BTC is currently trading at $22,913.54, and this comes as the 14-day relative strength index (RSI) neared a ceiling of 86.00.
At the time of writing, the index is tracking at a level of 85.09, with a floor of 80.00 another possible destination for traders.
The 10-day (red) moving average has also begun to show signs of peaking, which could lead to a sudden shift in momentum.
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
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