FX.co ★ BTC update for November 27, 2023 - Fake breakout of the resistance cluster

Technical analysis:

BTC/USD has been trading downside this morning an I found fake breakout of the key resistance cluster at the price of $38.000 in the background, which is good sign for the potential downside movement.

Due to the fake breakout of the resistance cluster in the background and bearish divergence on the RSI oscillator, I see potential for the downside movement towards lower reference.

Downside objective is set at the price of $36.650

RSI oscillator is showing bearish divergences in the background, which is good sign for the potential downside movement.

Resistance is set at the price of $38.000