FX.co ★ BTC update for November 07, 2023 - Symmetrical triangle in creation

Technical analysis:

BTC/USD has been trading sideways at the price of $34.900 and I see that market is trading inside of the symmetrical triangle pattern and that there is potential for the breakout mode.

In case of the upside breakout of the resistance at $35.500, there is the chance for the rally towards $36.000-$37.000

In case of the downside breakout of the support at $34.500, there is the chance for the downside movement towards $33.000-$32.000

RSI oscillator is showing reading around 50 level, which is sign for the indecision