FX.co - BTC update for October 25, 2023 - Breakout of the triangle pattern to the upside

2023-10-25T12:30:43

Relevance until2023-10-26

Technical analysis:

BTC update for October 25, 2023 - Breakout of the triangle pattern to the upside

BTC/USD has been trading upside and I found breakout of the well defined symmetrical triangle patter. There is potential for the further growth.

Due to the breakout of the symmetrical triangle and strong underlying trend in the background, I see potential for the further growth.

Upside objectives are set at $35.185 and $36.300

RSI oscillator is showing positive reversals, which is another good sign for the further rally.

Support is set at the price of $33.000

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for October 25, 2023 - Breakout of the triangle pattern to the upside