FX.co ★ BTC update for November 20, 2023 - Consolidation in progress

Technical analysis:

BTC/USD has been trading flat in side of the trading range. Trading range between the resistance at $38.000 and support at $34.800.

In case of the upside breakout of the resistance cluster at $38.000, there is potential for the rally towards $40.475

In case of the downside breakout of the rising treeline around $36.300, there si the chance for the downside movement towards $35.000

RSI oscillator reading is above the 60 level, which is sign that buyers are in control on the 4H time-frame.