FX.co ★ BTC analysis for October 29,.2021 - Symmetrical triangle in play, watch for the breakout

Technical analysis:

BTC is building symmetrical triangle in last 24 hours. I see potential for the breakout in the next period.

Trading recommendation:

Due to well established symmetrical triangle in the background, my advice is to watch for the breakout to confirm further direction.

Upside breakout can confirm test of $63,900 and buying opportunities on the pullbacks would be best option in that case.

Downside breakout of support will can produce downside movement towards $57,835 and in that case, bearish opportunities on the rallies will be preferable option.