FX.co ★ BTC update for November 25,.2022 - Potential for further upside movement

Technical analysis:

BTC/USD has been trading downside at the price of $16.400. Anyway, I see the downside movement like a pullback and potential for the further rise.

Trading recommendation:

Due to the strong upside pressure and channeling mode to the downside , Isee potential for further upside continuation.

Watch for the potential buying opportunities with the key Fibonacci confluence support at $16.300.

Upside objectives are set at $17.000 and $17.500

Stochastic is showing bull reading, which is sign that there is chance for the upside continuation.

Key support is set at the price of $16.300