BTC/USDT 1DAY UPDATE BY CRYPTOSANDERS
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BITCOIN UPDATE: -Bitcoin (BTC) fell to a four-month low to start the week, as bearish sentiment remains high in crypto markets.
BTC/USD slipped to an intraday low of $18,390.32 earlier in the day, following a floor breakout at $18,645.
The drop saw bitcoin hit its weakest point since June 18, the last time this support level was also broken. Many believe the decline comes ahead of this week’s U.S. Federal Open Market Committee meeting, where interest rates are expected to be hiked.
Looking at the chart, Monday’s sell-off comes as the 14-day relative strength index (RSI) fell below a floor of its own at 41.30.
As of writing, the token is trading below 38.00 and is currently in oversold territory, which could be a positive for those anticipating an eventual turnaround.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
BITCOIN UPDATE: -Bitcoin (BTC) fell to a four-month low to start the week, as bearish sentiment remains high in crypto markets.
BTC/USD slipped to an intraday low of $18,390.32 earlier in the day, following a floor breakout at $18,645.
The drop saw bitcoin hit its weakest point since June 18, the last time this support level was also broken. Many believe the decline comes ahead of this week’s U.S. Federal Open Market Committee meeting, where interest rates are expected to be hiked.
Looking at the chart, Monday’s sell-off comes as the 14-day relative strength index (RSI) fell below a floor of its own at 41.30.
As of writing, the token is trading below 38.00 and is currently in oversold territory, which could be a positive for those anticipating an eventual turnaround.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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