FX.co ★ BTC update for November 15, 2023 - Downisde objective reached but potential for the further downside movement

Technical analysis:

BTC/USD has been trading downside as I expected and the price did reach downside objective at $35.270 but I found rejection and selling climax in the background.

Due to the impulsive movement in the background and potential end of the upside correction, I see potential for the further downside movement.

Downside objective is set at the price of $34.830

RSI oscillator is showing reading below 50 and downside trend condition, which is good confirmation for the further downside movement.

Key resistance is set at the price of $36.000-$36.250