FX.co ★ BTC update for December 09,.2022 - First upside objective has been reached, potential for further growth

Technical analysis:

BTC/USD has been trading upside as I expected and the price has reached the first upside objective at the price of $17.120. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and the completion of downside correction, I see potential for the further growth towards next reference points.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $17.400 and $17.800.

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

Key support is set at the price of $16.600