FX.co ★ BTC update for November 08, 2023 - Symmetrical triangle in creation

Technical analysis:

BTC/USD has been trading sideways at the price of $33.300 and I see potential for the breakout mode.

In case of the breakout of the resistance at $36.000 and hold above, there is the chance for the rally towards upside references at $37.000 and $38.000

In case of the downside breakout of the support at $34.000, I see potential for the further drop towards $32.350 and $30.450

RSI oscillator is showing reading below above 50, which is sign that buyers are in control....