BTC update for October 31, 2023 – Potential for the breakout mode
October 31, 2023 11:24 am
Technical analysis:
BTC/USD has been trading sideways (rectangle pattern in creation) at the price of $34.400 and there is potential for the breakout mode in the next period.
In case of the upside breakout of the resistance at $35.200, there is the chance for the further growth towards $37.000 adn $38.000
In case of the downside breakout of the support at $33.200, there is teh chance for the drop towards $32.000 and $31.000
RSI oscillator is showing positive reading around 60 level.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading sideways (rectangle pattern in creation) at the price of $34.400 and there is potential for the breakout mode in the next period.
In case of the upside breakout of the resistance at $35.200, there is the chance for the further growth towards $37.000 adn $38.000
In case of the downside breakout of the support at $33.200, there is teh chance for the drop towards $32.000 and $31.000
RSI oscillator is showing positive reading around 60 level.
The material has been provided by InstaForex Company – www.instaforex.com
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