Hello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) started the week in the red, as traders prepared for a big week of economic announcements from the United States.
Inflation figures will be released on Tuesday, and are expected to fall to 7.3%, down from 7.7% the month prior.
BTC/USD fell to an intraday low of $16,899.39 during Monday’s session, a day after hitting a high of $17,245.64.
As seen from the chart, today’s decline saw bitcoin move lower for a fourth straight day, edging closer to a floor of $16,700 in the process.
The 14-day relative strength index (RSI), which is currently tracking at 47.42, is also nearing a resistance of its own at 46.00.
Depending on tomorrow’s inflation figure we could see BTC move below $16,700, potentially toward the $16,000 mark.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) started the week in the red, as traders prepared for a big week of economic announcements from the United States.
Inflation figures will be released on Tuesday, and are expected to fall to 7.3%, down from 7.7% the month prior.
BTC/USD fell to an intraday low of $16,899.39 during Monday’s session, a day after hitting a high of $17,245.64.
As seen from the chart, today’s decline saw bitcoin move lower for a fourth straight day, edging closer to a floor of $16,700 in the process.
The 14-day relative strength index (RSI), which is currently tracking at 47.42, is also nearing a resistance of its own at 46.00.
Depending on tomorrow’s inflation figure we could see BTC move below $16,700, potentially toward the $16,000 mark.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
