BTC/USDT 1DAY UPDATE BY CRYPTO SANDERS
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CHART ANALYSIS:-Bitcoin (BTC) rebounded from recent declines on Wednesday, as markets were boosted by the news that Coinbase has 2 million BTC in its reserves, as of the end of Q3.
Following a low of $15,820.29 on Tuesday, BTC/USD rallied to an intraday high of $16,611.59 in today’s session.
The surge in price sees BTC move away from a recent floor of $15,600, with bulls now seemingly targeting a ceiling of $16,900.
Looking at the chart, this rally comes as the 14-day relative strength index (RSI) broke out at a resistance of its own at 38.00.
As of writing, the index is tracking at 39.58 and appears to be making its way to a resistance point of 41.00.
Sentiment in the market remains bearish despite today’s rally, however, should these upcoming hurdles be overcome, then momentum could begin to shift.
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.
Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-Bitcoin (BTC) rebounded from recent declines on Wednesday, as markets were boosted by the news that Coinbase has 2 million BTC in its reserves, as of the end of Q3.
Following a low of $15,820.29 on Tuesday, BTC/USD rallied to an intraday high of $16,611.59 in today’s session.
The surge in price sees BTC move away from a recent floor of $15,600, with bulls now seemingly targeting a ceiling of $16,900.
Looking at the chart, this rally comes as the 14-day relative strength index (RSI) broke out at a resistance of its own at 38.00.
As of writing, the index is tracking at 39.58 and appears to be making its way to a resistance point of 41.00.
Sentiment in the market remains bearish despite today’s rally, however, should these upcoming hurdles be overcome, then momentum could begin to shift.
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
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