BTC update for November 03, 2023 – Fake breakout of the triangle pattern
November 3, 2023 10:23 am
Technical analysis:
BTC/USD has been trading downside today and I found fake breakout of the symmetrical triangle in the background and potential for the further downside movement.
Due to the fake breakout of the triangle pattern in the background and return into the range, I see potential for the further drop towards lower referenes..
Downside objectives are set at the price of $32.000 and $30.850
RSI oscillator is showing reading below 40, which is good sign for the downside condition.
Key resistance is set at the price of $36.000
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading downside today and I found fake breakout of the symmetrical triangle in the background and potential for the further downside movement.
Due to the fake breakout of the triangle pattern in the background and return into the range, I see potential for the further drop towards lower referenes..
Downside objectives are set at the price of $32.000 and $30.850
RSI oscillator is showing reading below 40, which is good sign for the downside condition.
Key resistance is set at the price of $36.000
The material has been provided by InstaForex Company – www.instaforex.com
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