FX.co ★ BTC analysis for December 21,.2021 - Potential for another strong upside wave

Technical analysis:

BTC has been trading upside today and there is the breakout of the falling channel, which is good sign for further upside continuation.

Trading recommendation:

Due to the breakout of the well defined downside channel, I see potential for the upside continuation.

Watch for buying opportunities on the intraday pullbacks with the upside objective at the price $51,630 and $55,433.

Stochastic is showing bull reading with no evidence for any reversal.

Key support level is set at $45,570