BTC update for November 02, 2023 – Breakout of the triangle pattern
November 2, 2023 10:25 am
Technical analysis:
BTC/USD has been trading upside and I found breakout of the trading range in the background, which is good sign for the further upside continuation.Anyway, for the confirmation I would like to see re-break of the $36.000 level.
Due to the breakout of the trading range and strong upside momentum this morning, I see potential for the further rally towards the next upside reference.
Upside objective is set at the price of $37.000
RSI oscillator is showing upside reading above 60 level and trend range to the upside.
Alternative scenario is for thee price to do fake breakout and to trade below $34.000, in that case potential for the downside towards $32.300 would be in the play.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading upside and I found breakout of the trading range in the background, which is good sign for the further upside continuation.Anyway, for the confirmation I would like to see re-break of the $36.000 level.
Due to the breakout of the trading range and strong upside momentum this morning, I see potential for the further rally towards the next upside reference.
Upside objective is set at the price of $37.000
RSI oscillator is showing upside reading above 60 level and trend range to the upside.
Alternative scenario is for thee price to do fake breakout and to trade below $34.000, in that case potential for the downside towards $32.300 would be in the play.
The material has been provided by InstaForex Company – www.instaforex.com
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