BTC analysis for November 15,.2021 - Breakout of symmetrical triangle in the background

Technical Analysis:

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BTC has been trading upside like I expected. There is the breakout of the contraction in the background, which is good confirmation for further upsidee movement.


Trading recommendation:
Due to the breakout of the symmetrical triangle in the background and higher lows on hourly time-frame, I see potential for further rise.

Watch for buying opportunities on the pullbacks with the upside target at $68,500.

Stochastic is showing overbought condition with no strong downside break, which is sign that demand is still present.

Support level for today is set at the price of $65,250





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Petar Jacimovic
Analytical expert of InstaForex
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