FX.co - BTC analysis for November 19,.2020 - Both targets met from yesteday but symmetrical triangle in creation and potential for the breakout

2020-11-19T13:15:46

Relevance until2020-11-20

Further Development

BTC analysis for November 19,.2020 - Both targets met from yesteday but symmetrical triangle in creation and potential for the breakout

Analyzing the current trading chart of BTC, I found that BTC both our yesterday's targets and that market entered contraction mode.

I found that symmetrical triangle is in creation on the 1H time-frame, which is sign of the balance and warning to watch for the breakout.

The downside breakout of the support at $17,300 will confirm downside movement towards $16,200

Key Levels:

Resistance: $18,000

Support levels: $17,300 and $16,200

*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 analysis for November 19,.2020 - Both targets met from yesteday but symmetrical triangle in creation and potential for the breakout