FX.co - BTC analysis for November 18,.2021 - Watch for the brakout to confirm further direction

18 November 2021 at 1:20PM (UTC+0)

Relevance until19 November 2021 at 1:20PM (UTC+0)

Technical analysis:

BTC analysis for November 18,.2021 - Watch for the brakout to confirm further direction

BTC has been trading sideways at the price of $59,000. Potential for the breakout in next period.

Trading recommendation:

Due to sideways market condition and inside day so far on the market. My advice is to watch for potential breakout to confirm further direction.

Downside breakout of the support at $57,780 can confirm drop towards $54,250

Upside breakout of resistance at the price of $61,150 can confirm test of $62,700

Stochastic is showing downside pressure....

*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 18,.2021 - Watch for the brakout to confirm further direction