Mastering Crypto
2023/09/17 06:17
Bitcoin Price Analysis
Bitcoin slipped from a two-week high to start the weekend, as bears moved to snap a recent four-day win run.
BTC/USD hit a bottom of $26,240.70 earlier in today’s session, which comes following a peak at $26,840.50 the day before.
The fall appears to have come as bulls were unable to sustain recent pressure that saw BTC climb to its strongest point since August 31.
From the chart, the drop coincides with the relative strength index (RSI) failing to move above a ceiling of 53.00
At the time of writing, price strength is now tracking at 51.27, with a floor of 41.00 a potential target.
Bulls will likely look to avoid market consolidation and force a breakout of the 53.00 level, which could lead bitcoin back above $27,000.
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