FX.co ★ BTC update for October 31, 2023 - Potential for the breakout mode

Technical analysis:

BTC/USD has been trading sideways (rectangle pattern in creation) at the price of $34.400 and there is potential for the breakout mode in the next period.

In case of the upside breakout of the resistance at $35.200, there is the chance for the further growth towards $37.000 adn $38.000

In case of the downside breakout of the support at $33.200, there is teh chance for the drop towards $32.000 and $31.000

RSI oscillator is showing positive reading around 60 level.