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BTC/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, 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) rose briefly above the $17,000 level on Wednesday, as markets began to anticipate the release of the upcoming U.S. consumer confidence report. Following a low of $16,763.66 on Tuesday, BTC/USD raced to an intraday high of $17,012.98 earlier in today’s session. Today’s surge comes as prices once again rose above a key resistance level at the $16,800 level. Looking at the chart, BTC has moved away from earlier highs, with the coin currently trading at the $16,868.40 mark. This comes despite the 14-day relative strength index (RSI) failing to break out of a recent ceiling at 49.00. As of writing, the index is tracking at the 47.03 level and seems to be heading for a floor at 46.00. 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
BITSTAMP:BTCUSD
by CryptoSanders9563
2
BTC/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, 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
by CryptoSanders9563
2
#BTC/USDT 6Hr UPDATE BY CRYPTO SANDERS Hello, welcome to this BTC /USDT 6Hr chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:- BTC bounced back with a decent stable volume after clearing stops below the order block. Now it is facing mid-range resistance. A reclaim over the mid-range with a retest above it would confirm a decent bullish rally in the market. If it rejects from here, a downward move is expected toward the horizontal support of $16K, and from where we could expect an upward direction in the market. Bitcoin is again testing the resistance area. Let’s wait to see if BTC is able to break the resistance area. There is no clear direction and we may see more sideways movement. The market needs big positive news to break the resistance levels. 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
by CryptoSanders9563
2
BTC Long term Vision! Bulltrap alert!!What Makes Bull Traps Happen? Wishful Thinking Bull traps can emerge after a market downturn appears to have been exhausted. In the wake of steep declines, there’s often clamoring among investors to grab an early seat for the ride back up, get in at what appears to be a bargain price, and/or pick a bottom. These initial buying spurts may push prices above certain chart levels, and these “breakouts” can trigger more buying. But such breakouts may actually be false signals, and the price soon resumes a downward path. So, what is a bull trap? A bull trap fools some traders into thinking a market or an individual stock price is done falling and that it’s a good time to buy. But then it turns out it’s not a good time, because the price soon resumes its descent, catching buyers in a money-losing trap. In many ways, it’s the opposite of a “bear trap,” which can fool traders into selling out too soon in the midst of a bull market. Here, we can go and print 25k..even 30kish..still I'd say it is going to be a bull trap! I also see the overall market conditions and it doesn't seem good. Do you agree or disagree?! Comment down below!!
BITSTAMP:BTCUSDShort
by The3eyedFrog
2