BTC/USDT 1DAY UPDATE BY CRYPTO SANDERS
Updated
Hello, welcome to this BTC/USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) moved closer to the $17,000 level on Tuesday, as traders reacted to the latest Bank of Japan policy decision.
BTC/USD surged to a peak of $16,837.65 earlier in today’s session, less than 24 hours after hitting a low of $16,398.14.
Today’s move saw the token climb above a key resistance level of $16,700, with prices rising to a four-day high in the process.
Looking at the chart, the surge took place as the 14-day relative strength index (RSI) broke out of a ceiling at the 46.00 level.
As of writing, the index is currently tracking at the 46.61 mark, which is its strongest point since last Thursday.
Should the index continue this upward trend, we will likely see BTC move above the $17,000 level in the coming days.
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) moved closer to the $17,000 level on Tuesday, as traders reacted to the latest Bank of Japan policy decision.
BTC/USD surged to a peak of $16,837.65 earlier in today’s session, less than 24 hours after hitting a low of $16,398.14.
Today’s move saw the token climb above a key resistance level of $16,700, with prices rising to a four-day high in the process.
Looking at the chart, the surge took place as the 14-day relative strength index (RSI) broke out of a ceiling at the 46.00 level.
As of writing, the index is currently tracking at the 46.61 mark, which is its strongest point since last Thursday.
Should the index continue this upward trend, we will likely see BTC move above the $17,000 level in the coming days.
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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Bitcoin is forming a falling wedge pattern on a daily time frame. The major resistance on daily time frame is $18,300-$19,000 area. The trendline resistance of the falling wedge pattern is also near the $19,000 level. A breakout of the falling wedge is bullish. The major support remains the same in the $15,000-$15,500 area.
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