FX.co - BTC analysis for December 16,.2020 - First target at $19.900 has been reached and potential for second target at $21.200

2020-12-16T12:26:55

Relevance until2020-12-18

Further Development

BTC analysis for December 16,.2020 - First target at $19.900 has been reached and potential for second target at $21.200

Analyzing the current trading chart of BTC, I found our major upside target at the price of $19,885 has been reached.

I still see further upside movement due to strong upside momentum and potential test of next upside target at $21,200 (Fibonacci expansion 100%).

Watch for buying opportunities on the dips with the upside target at $21,200.

Key Levels:

Resistance: $19,885 and $21,200

Support level: $19,000

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for December 16,.2020 - First target at $19.900 has been reached and potential for second target at $21.200