FX.co ★ BTC update for November 28, 2023 - Potential for the further drop

Technical analysis:

BTC/USD has been trading sideways at the price of $37.000 but I see potential for the downside breakout towards rising trend-line and lower references.

In case of the breakout of the triangle consolidation, I see potential for the further drop towards the levels at $36.500 and $35.700

In case of the upside breakout of the resistance at $38.500, there is the chance for the higher prices towards $39.000 and $40.000

RSI oscillator is showing downside reading, which is good sign for the further downside scenario.