FX.co ★ BTC update for October 19, 2023 - Test of the support

Technical analysis:

BTC/USD has been trading sideways at the price of $28.350 but I found testing of the key short-term support at $28.100. There is a chance for rejection or the breakout mode.

In case of the rejection of the support, there is potential for the rally towards $29.000-$30.450

In case of the breakout of the support at $28.000 there is the chance for the drop towards $27.500-$27.000

RSI oscillator is showing neutral reading at 50 level, which is the sign of the short-term indecision.