BTC/USD 1DAY UPDATE BY CRYPTO SANDERS
Updated
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:-BTC was once again in consolidation on Friday, as markets continued to react to the latest U.S. Q3 GDP figures.
Following a low of $16,592.41 on Thursday, BTC/USD was marginally higher, with prices rising to a peak of $16,880.87 in today’s session.
The surge in price pushed BTC above a key resistance point of $16,800, as bulls once again attempted to recapture the $17,000 mark.
As can be seen from the chart, recent price uncertainty comes as the 14-day relative strength index (RSI) remains close to a floor of 45.00.
Sentiment also seems uncertain following a recent crossover between the red 10-day moving average, and its 25-day (blue) counterpart.
If this downward trend continues, we could see BTC trading near $16,000 during the Christmas weekend.
This is not a piece of financial advice.
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I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-BTC was once again in consolidation on Friday, as markets continued to react to the latest U.S. Q3 GDP figures.
Following a low of $16,592.41 on Thursday, BTC/USD was marginally higher, with prices rising to a peak of $16,880.87 in today’s session.
The surge in price pushed BTC above a key resistance point of $16,800, as bulls once again attempted to recapture the $17,000 mark.
As can be seen from the chart, recent price uncertainty comes as the 14-day relative strength index (RSI) remains close to a floor of 45.00.
Sentiment also seems uncertain following a recent crossover between the red 10-day moving average, and its 25-day (blue) counterpart.
If this downward trend continues, we could see BTC trading near $16,000 during the Christmas weekend.
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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CHART ANALYSIS:-BTC bounced back after clearing the short-term downside liquidity. It is also forming an inverse head and should pattern on smaller time frames.
Currently, it is facing MA21 resistance, and a breakout of it will confirm a move toward the horizontal resistance. For mid-term bullish confirmation, bulls need to clear Ichimoku clouds , which would ensure a trend reversal in the market.
Bitcoin is unable to break the resistance area . This seems to be a rejection and the price is again testing the resistance area . Altcoins are showing some positive movement and we may see more upward trend if BTC remains stable in the range.
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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CHART ANALYSIS:-BTC remained under the $17,000 level to start the weekend, as prices continued to consolidate despite earlier gains.
BTC/USD hit a high of $16,905.22 earlier in today’s session, which comes a day after the price was at a bottom, at the $16,793.53 mark.
The move saw the world’s largest cryptocurrency continue to trade above a key point of support at $16,800.
As can be seen from the chart, earlier gains have somewhat eased, as the 14-day relative strength index (RSI) failed to break above a ceiling at 48.00.
The index is currently trading at 46.72, with bulls still attempting to push past the aforementioned point of resistance.
On the other hand, should price strength decline below a floor at 45.00, bitcoin will likely move towards the $16,000 level.
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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