Hello, welcome to this BTC/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin was trading below 26,000 on Labor Day, as volume in the cryptocurrency market was mostly lower.
BTC/USD slipped to an intraday low of 25,817.03 to start the week, following a high of 26,087.15 the day prior.
The decline pushed Bitcoin closer to a collision with support at $25,600, however, bulls have so far rejected this retracement.
This comes as the 14-day relative strength index (RSI) found a floor of its own at the 35.00 mark, helping to ease the bearish pressure.
the index is now tracking at 37.16, with the next visible resistance point at 43.00.
In the event that this ceiling is broken, BTC bulls will likely make advancements toward 28,000.
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 was trading below 26,000 on Labor Day, as volume in the cryptocurrency market was mostly lower.
BTC/USD slipped to an intraday low of 25,817.03 to start the week, following a high of 26,087.15 the day prior.
The decline pushed Bitcoin closer to a collision with support at $25,600, however, bulls have so far rejected this retracement.
This comes as the 14-day relative strength index (RSI) found a floor of its own at the 35.00 mark, helping to ease the bearish pressure.
the index is now tracking at 37.16, with the next visible resistance point at 43.00.
In the event that this ceiling is broken, BTC bulls will likely make advancements toward 28,000.
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
