Analysis Cryptos Support & Resistance

BTC update for October 31,.2022 – Breakout of the downside channel and potential for bigger growth

Technical
analysis:

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BTC/USD
has been trading upside as I expected and
there is potential for the further growth towards upside references.

Trading
recommendation:

Due
to the breakout of the channel in the background, I see potential for
further growth.

Watch
for the potential buying opportunities on the intraday dips with the
upside objectives
at the price of $21.050
and $21.420.

MACD
oscillator is showing decreasing
in the momentum to the downside and potential for the upside
rotation.

Key
support is set at the price of $20.460

The material has been provided by InstaForex Company – www.instaforex.com


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