FX.co - BTC update for October 18, 2023 - Wedge pattern in creation

2023-10-18T07:32:29

Relevance until2023-10-19

Technical analysis:

BTC update for October 18, 2023 - Wedge pattern in creation

BTC/USD has been trading sideways at the price of $28.600 and I found that wedge pattern is in creation.

In case of the breakout of the resistance at $29.000 there is the chance for the rally towards the top of the pin-bar at $30.400

In case of the downside breakout of the support at $28.000, there is the chance for the drop towards the downside references at $27.600 and $27.000

*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 update for October 18, 2023 - Wedge pattern in creation