FX.co ★ BTC update for November 16, 2023 - Resistance at the price of $38.000 on the test

Technical analysis:

BTC/USD has been trading upside and I found that resistance at the price of $38.000 is on the test.

In case of the rejection of the resistance at $38.000, I see potetnial for the further downside movement towards the level at $35.400

In case of the upside breakout of the resistance hold above the $38.000, there is the chance for the further upside movement towards $39.900

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