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FX.co ★ BTC update for November 10, 2023 - Triangle pattern in creation

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Crypto Analysis:::2023-11-10T09:47:41

BTC update for November 10, 2023 - Triangle pattern in creation

Technical analysis:

BTC update for November 10, 2023 - Triangle pattern in creation

BTC/USD has been trading in the consolidation at $36.500 and I see that triangle pattern is in creation. There is potential for the brekaout mode.

In case of the downside breakout of the support at $36.000, there is the chance for the lower price towards $35.700 and $35.000

In case of the upside breakout of the resistance at $37.000, there si the chance for the rally towards $38.000

RSI oscillator is showing reading around 50, which is sign of indecision and potential for the further breakout.

Analyst InstaForex
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