FX.co ★ BTC update for October 20, 2023 - Breakout fo the multi-day consolidation to the upside

Technical analysis:

BTC/USD has been trading upside this morning and I found breakout of the multi day balance, which is strong sign for the bullish momentum and further higher prices.

Due to the breakout of the multi day consolidation and strong upside momentum, I see potential for the further rally towards upside references.

Upside objectives are set at the price of $30.500 and $31.750

RSI oscillator did show positive reversal prior the upside movement and reading above 60 and is still in the strong upside trend condition.

Key support is set at the price of $28.000