FX.co - BTC update for November 17, 2023 - Rejection of the resistance cluster in the background

2023-11-17T10:49:56

Relevance until2023-11-18

Technical analysis:

BTC update for November 17, 2023 - Rejection of the resistance cluster in the background

BTC/USD has been trading downside yesterday and I found rejection for the resistance at $38.000

Due to the rejection of the resistance cluster in the background, there is the chance for the further drop towards downside references.

Downside objective is set at the price of $35.000

RSI oscillator is showing reading around 50 level, which is sign of indecision.

Key resistance is set at the price $38.000

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for November 17, 2023 - Rejection of the resistance cluster in the background