FX.co - BTC analysis for December 17,.2021 - Potential for another drop

2021-12-17T13:14:04

Relevance until2021-12-18

Technical analysis:

BTC analysis for December 17,.2021 - Potential for another drop

BTC has been trading downwards as I expected. The price is near the my main downside objective at the price of $46,645

Trading recommendation:

Due to downside momentum and consolidation near the support, there is chance for the downside movement.

Watch for selling opportunities with the downside objectives at $46,645 and $45,845

Stochastic oscillator is showing oversold condition but with fresh bear cross.

Key resistance is set at the price of $49,500

*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 17,.2021 - Potential for another drop