FX.co ★ BTC analysis for December 08,.2021 - Downside continuation in the play

Technical analysis:

BTC has been trading downside today after the very weak close daily close yesterday. I see further downside continuation.

Trading recommendation:

Due to strong selling pressure today and the downside trend in the background, my advice is to watch for selling opportunities on the rallies.

Downside targets are set at the price of $47,285 and $42,240.

Stochastic is showing fresh bear cross , which is another sign and confirmation for the downside rotation.

Resistance level is set at the price of $52,000