FX.co ★ BTC update for December 26,.2022 - Potential for the breakout play

Technical analysis:

BTC/USD has been trading sideways at the price of $16.800and I see potential for the breakout play.

Trading recommendation:

Due to the sideways condition and well defined trading range, I see potential for the breakout play.

In case of the breakout and hold above the resistance at $16.950, watch for buying opportunities with the upside objective at $17.310

In case of the breakout of the support at $16.720, watch for selling opportunities with the downside objective at $16.365