FX.co ★ BTC update for November 22, 2023 - Breakout of the mini rising trendline

Technical analysis:

BTC has been trading downside this morning and I found breakout of the mini rising trend line within the consolidation, which can be a good sign for the further downside movement.

Due to the breakout of the mini rising trend-line, I see potential for the further downside movement towards the bottom of the consolidation.

Downside objective is set at the price of $34.845

RSI oscillator is flat and reading around 50 level

Alternative scenario: In case of the upside breakout of the key resistance at $38.000, there is the chance for the further rally towards $41.000