Technical analysis of BTC/USD 10/27/2021
Bitcoin has renewed its all-time high at $ 66,900 and started a correction.Support at the level of $ 61,000 (23.6% Fibo) was broken and at the moment the quotes are in the area of $ 58,000.
The divergence on the RSI indicator suggests the development of a downward correction.
The closest support level is $ 57,000 (38.2% Fib), followed by $ 54,000 (50% Fib). A breakout of the $ 50,000 level (61.8% Fibo) will mean the transition of the correction to a downtrend in the medium term.
Cancellation of the development of the downward correction will be the growth of quotations above the maximum of $ 67,000.
Created by Joshua Hayn