FX.co ★ BTC update for December 06,.2022 - Potential for bigger rally

Technical analysis:

BTC/USD has been trading downside at the price of $17.000. Anyway, I see potential for the further rally due to strong support on the test.

Trading recommendation:

Due to the strong support and multi Fibonacci confluence on the test, I see potential for the further upside movement.

Watch for the potential buying opportunities with the upside objective at the price of $17.735

Stochastic Oscillator is showing oversold condition bull cross, which his good sign for further rally.

Key support is set at the price of $16.900