FX.co ★ BTC update for October 09, 2023 - Potential for the furthe rally

Technical analysis:

BTC/USD has been trading sideways at the price of $27.900 but I see potential for the further rally towards upside references.

Due to the breakout of the resistance at $27.200 and successful hold above that level, I see potential for the further upside continuation towards upside references.

Upside objective is set at $28.630 and $29.000

RSI oscillator is showing positive trend and reading above 50, which is good sign for the further rally.

Support is set at the price of $27.200