FX.co ★ BTC update for October 17, 2023 - Massive bullish climax yesterday and weak close

Technical analysis:

BTC/USD has been trading upside and the price reached upside objective at $28.800 but I found strong reversal and weak close yesterday, which is a sign of the weakness.

Key resistance at the price of $28.600 is on the test and we had weak close yesterday, which is a sign of the indecision

In case of the re-break of the resistance at $28.600 and hold above, there is the chance for the test of the pin-bar area $29.200-$30.000

In case of the downside breakout of the $27.000 and hold below, there is the chance for the drop towards $25.000