Technical analysis by Financebroker about Symbol BTC: Buy recommendation (10/19/2023)

Bitcoin chart analysis The price of bitcoin in the previous 12 hours moved in the $28200-$28400 range. At the moment, we are still in that zone, and we are continuing with consolidation. A certain bearish pressure prevents us from breaking above the $28400 level. So it is possible that we will see a decline below the $28200 level and visit the support at the $28000 level. The EMA50 moving average is in the zone around $27,800, and we could expect more specific support there. We need a positive consolidation and a break above the $28400 level for a bullish option. Then, we would have to hold above there in order to launch a continuation to the bullish side from there. Potential higher targets are $28600 and $28800 levels.