Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) was once again trading under $28,000 on Thursday, as markets began to prepare for tomorrow’s non-farm payrolls report.
BTC/USD dropped to an intraday low of $27,831.56 in today’s session, which comes less than 24 hours after trading at a high of $28,714.22.
The move came as bitcoin bulls were unable to sustain a breakout of a key resistance level of $28,500.
Looking at the chart, this latest drop in price came as the 14-day relative strength index (RSI) dropped below a floor of 58.00.
As of writing this, the index is now tracking at 57.80, with the 10-day (red) moving average nearing a downward cross with its 25-day (blue) counterpart.
Should sentiment remain bearish, there is a strong possibility that BTC will fall to a floor at $27,000.
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