FX.co - BTC analysis for December 07,.2021 - Reversion to the mean in the play

2021-12-07T12:41:11

Relevance until2021-12-08

Technical analysis:

BTC analysis for December 07,.2021 - Reversion to the mean in the play

BTC has been trading upside in response for the big extreme in the background. There is potential for the reversion to the mean play.

Trading recommendation:

Due to extreme downside condition in the background, there is chance for the rally.

Watch for upside movement on the pullback with the upside objectives at $53,400 and $55,000.

Stochastic is showing bull cross and bull divergence in the background.

Support level is set at the price of $42,000

*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 07,.2021 - Reversion to the mean in the play