FX.co - BTC analysis for November 23,.2021 - Potential for the another drop

2021-11-23T13:27:32

Relevance until2021-11-24

Technical analysis:

BTC analysis for November 23,.2021 - Potential for the another drop

BTC has been trading downside as I expected. There is the potential for the further downside continuation.

Trading recommendation:

Due to strong downside cycle in last 20 days, I see potential for the downside continuation.

Watch for selling opportunities on the rallies with the downside objective at the price of $53,411.

Stochastic is showing another fresh bear cross, which is sign for the downside continuation.

Resistance level is set at the price of $60,000

*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 23,.2021 - Potential for the another drop