BTC update for October 19, 2023 – Test of the support
October 19, 2023 9:28 am
Technical analysis:
BTC/USD has been trading sideways at the price of $28.350 but I found testing of the key short-term support at $28.100. There is a chance for rejection or the breakout mode.
In case of the rejection of the support, there is potential for the rally towards $29.000-$30.450
In case of the breakout of the support at $28.000 there is the chance for the drop towards $27.500-$27.000
RSI oscillator is showing neutral reading at 50 level, which is the sign of the short-term indecision.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading sideways at the price of $28.350 but I found testing of the key short-term support at $28.100. There is a chance for rejection or the breakout mode.
In case of the rejection of the support, there is potential for the rally towards $29.000-$30.450
In case of the breakout of the support at $28.000 there is the chance for the drop towards $27.500-$27.000
RSI oscillator is showing neutral reading at 50 level, which is the sign of the short-term indecision.
The material has been provided by InstaForex Company – www.instaforex.com
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