FX.co ★ BTC update for December 08,.2022 - Potential completion of the ABC downside correction

Technical analysis:

BTC/USD has been trading sideways at the price of $16.800/ Anyway, I see potential for the upside movement due to the potential completion of the downside correction.

Trading recommendation:

Due to the potential completion of the downside correction and strong rejection in the background, I see potential for the further rally.

Watch for the potential buying opportunities with the upside objectives at $17.110 and $17.350.

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

Key support is set at the price of $16.600