FX.co - BTC analysis for December 01,.2021 - Potential for the breakout of the cluster

2021-12-01T14:40:03

Relevance until2021-12-02

Technical analysis:

BTC analysis for December 01,.2021 - Potential for the breakout of the cluster

BTC has been trading upside today but I see potential for the further upside movement and breakout of the cluster at the price of $59,900.

Trading recommendation:

Due to oversold condition in the background there is potential for the further upside movement.

Watch for buying opportunities on the pullbacks and potential for test of $60,000 and $62,250.

Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside rotation.

Key support based on the daily time-frame is set at the price of $53,200

*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 01,.2021 - Potential for the breakout of the cluster