Hello, welcome to this BTC/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin’s consolidation continued on Wednesday, as bulls remained on the sidelines, despite the prospect of a “death cross.”
The term refers to an entangling between moving averages, in this instance the 10-day (red) and 25-day (blue) trendlines.
Despite the potential for this to occur, BTC/USD bottomed out at 25,628.61, which is marginally lower than Tuesday’s high of 25,858.37.
price consolidation comes as the relative strength index (RSI), flatlines close to a support of its own at 35.00.
Bulls have so far rejected a move below this point, however, in the event that this occurs, BTC could fall below 25,000.
Longer-term Bitcoiners could be hoping for this, as a means of buying at an even lower rate.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:- Bitcoin’s consolidation continued on Wednesday, as bulls remained on the sidelines, despite the prospect of a “death cross.”
The term refers to an entangling between moving averages, in this instance the 10-day (red) and 25-day (blue) trendlines.
Despite the potential for this to occur, BTC/USD bottomed out at 25,628.61, which is marginally lower than Tuesday’s high of 25,858.37.
price consolidation comes as the relative strength index (RSI), flatlines close to a support of its own at 35.00.
Bulls have so far rejected a move below this point, however, in the event that this occurs, BTC could fall below 25,000.
Longer-term Bitcoiners could be hoping for this, as a means of buying at an even lower rate.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
