BTC/USDT ~ Daily Analysis

9 באוג׳ 2023

BTC had a bullish rally in the past 24 hours in its mission to break above the psychological mark of $30,000 again. However, the resistance present at mentioned price level is proving to be too strong for the world’s largest digital asset. On the Fibonacci retracement table, the price level broke above all the levels. The Relative Strength Index (RSI) suggests that BTC is still reflecting positive sentiment with the level residing around 55.80. This could be further validated by the Moving Average Convergence Divergence (MACD) in which the level has crossed above the histogram and formed green bars as well. Overall, a pivotal point for Bitcoin will be to break and sustain above $30,000.