Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) rose back above $27,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy.
Following a low of $24,624.74 on Thursday, BTC/USD raced to an intraday peak of $27,002.39 earlier in the day.
As a result of the move, bitcoin climbed to its strongest point since June 2022, when the price was above $28,500.
Since this latest rally, the 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart, which many see as a sign of a longer-term bull run.
In addition to this, the 14-day relative strength index (RSI) has broken out of a resistance level at 67.00, moving into overbought territory in the process.
At the time of writing, the index is tracking at 70.09, which is the strongest reading for the index since early February.
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 ( BTC ) rose back above $27,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy.
Following a low of $24,624.74 on Thursday, BTC/USD raced to an intraday peak of $27,002.39 earlier in the day.
As a result of the move, bitcoin climbed to its strongest point since June 2022, when the price was above $28,500.
Since this latest rally, the 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart, which many see as a sign of a longer-term bull run.
In addition to this, the 14-day relative strength index (RSI) has broken out of a resistance level at 67.00, moving into overbought territory in the process.
At the time of writing, the index is tracking at 70.09, which is the strongest reading for the index since early February.
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.
