FX.co ★ BTC update for November 16,.2022 - Potential for the downside rotation

Technical analysis:

BTC has been trading downside and I found rejection of the key resistance at the price of $17.100, which is sign that there is potential for the downside rotation.

Trading recommendation:

Due to the rejection of the resistance at $17.100, I see potential for the downside rotation towards lower references.

Watch for the potential intraday selling opportunities with the downside objective at $16.200.

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

Key resistance is set at the price of $17.100