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FX.co ★ BTC update for November 06, 2023 - Symmetrical triangle in creation

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Crypto Analysis:::2023-11-06T09:23:09

BTC update for November 06, 2023 - Symmetrical triangle in creation

Technical analysis:

BTC update for November 06, 2023 - Symmetrical triangle in creation

BTC/USD has been trading sideways at the price of $35.000 and I found symmetrical triangle pattern in creation and potential for the breakout mode..

In case of the upside breakout of the resistance at $.36.000 and hold above, I see potential for the further rally towards $37.000 and $38.000

In case of the downside breakout of the support level at $34.000 and hold below, I see potential for the further drop towards $33.000 and $32.000

RSI oscillator is showing neutral reading around 50 level, which is another sign of the indecision.

Analyst InstaForex
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