FX.co - BTC update for December 30,.2022 - Rejection of the resistance cluster and potential for the further drop

30 December 2022 at 8:50AM (UTC+0)

Relevance until31 December 2022 at 8:50AM (UTC+0)

Technical analysis:

BTC update for December 30,.2022 - Rejection of the resistance cluster and potential for the further drop

BTC/USD has been trading downside and I found rejection of the key resistance cluster at $17.000. There is chance for further downside movement.

Trading recommendation:

Due to the rejection of the strong resistance at $17.000, I see potential for the further downside movement towards lower references.

Watch for the potential selling opportunities on the rallies with the downside objective at the price of $15.640.

MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Key support is set at the price of $15.640

*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 30,.2022 - Rejection of the resistance cluster and potential for the further drop