FX.co ★ BTC update for December 21,.2022 - Watch for the downside rotation

Technical analysis:

BTC/USD has been trading upside but the market reached key resistance at the price of $16.920 and had rejection. I see potential for the downside rotation.

Trading recommendation:

Due to the rejection of the resistance in the background , I see potential for the further downside movement towards lower references.

Watch for the potential selling opportunities with the downside objectives at $16.785 and $16.720

Stochastic oscillator is showing fresh bear cross and potential for the downside movement.

Key resistance is set at the price of $16.925