FX.co - BTC update for December 27,.2022 - Potential for the downside rotation

2022-12-27T07:56:59

Relevance until2022-12-28

Technical analysis:

BTC update for December 27,.2022 - Potential for the downside rotation

BTC/USD has been trading upside as I expected and there is potential for the further downside rotation.

Trading recommendation:

Due to the rejection of the resistance cluster at the price of $16.900, I see potential for the further downside rotation.

Watch for the potential selling opportunities with the downside objective at $16.780.

Stochastic oscillator is showing fresh downside cross, which is strong sign that sellers are in control.

Key resistance is set at the price of $16.950

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for December 27,.2022 - Potential for the downside rotation