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FX.co ★ BTC analysis for November 17,.2021 - Rejection of the 50 day moving average

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Crypto Analysis:::2021-11-17T12:41:05

BTC analysis for November 17,.2021 - Rejection of the 50 day moving average

Technical analysis:

BTC analysis for November 17,.2021 - Rejection of the 50 day moving average

BTC has been tradind flat today at the price of $60,500. I see potential for the upside continuation in the next period.

Trading recommendation:

Due to test and reject of 50 day average, I see potential for the upside rotation towards $62,700.

My advice is to watch for potential buying opportunities with the upside objective at the price of $62,700.

Key support level is set at the price of $57,800

Analyst InstaForex
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