FX.co ★ BTC update for November 03,.2022 - Rejection of the resistance cluster

Technical analysis:

BTC has been trading downside in the background and I found rejection of the resistance at $20.385, which is good sign for further downside movement.

Trading recommendation:

Due to the rejection of the resistance cluster in the background, I see potential for the further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $20.000.

Stochastic oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Short-term resistance is set at the price of $20.385