FX.co ★ BTC analysis for November 16,.2021 - Strong support on the test

Technical analysis:

BTC has been trading sideways downside today and there is test of the major support area at the price of $58,600.

Trading recommendation:

Due to strong selling climax and test of major support I see potential for the upside rotation.

Watch for potential buying opportunities with the potential upside objective at $62,700.

Stochastic oscillator on lower time-frames is showing extreme condition, which is sign for the potential rotation to the upside.

Key support level is set at $57,800