FX.co - BTC analysis for November 17,.2021 - Rejection of the 50 day moving average

2021-11-17T12:41:05

Relevance until2021-11-18

Technical analysis:

BTC analysis for November 17,.2021 - Rejection of the 50 day moving average

BTC has been tradind flat today at the price of $60,500. I see potential for the upside continuation in the next period.

Trading recommendation:

Due to test and reject of 50 day average, I see potential for the upside rotation towards $62,700.

My advice is to watch for potential buying opportunities with the upside objective at the price of $62,700.

Key support level is set at the price of $57,800

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for November 17,.2021 - Rejection of the 50 day moving average