FX.co - BTC update for December 28,.2022 - Potential for the breakout of the range

2022-12-28T14:02:23

Relevance until2022-12-29

Technical analysis:

BTC update for December 28,.2022 - Potential for the breakout of the range

BTC/USD has been trading downside this morning and I see potential for the potential breakout of the trading range.

Trading recommendation:

Watch for the potential breakout of the support zone at $16.500, to confirm further downside movement.

Watch for the potential selling opportunities below $16.500 with the downside objectives at $16.250 and $15.650.

MACD oscillator is showing downside reading, which is sign for the further downside movement.

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 28,.2022 - Potential for the breakout of the range