FX.co ★ BTC update for December 01,.2022 - Potential for bigger rally

Technical analysis:

BTC/USD has been trading upside as I expected and the price had nice fallow trough after the breakout of the supply trend-line. I see potential for further growth towards upper objectives.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key supply trend-line, I see potential for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $21.350.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $16.000