FX.co ★ BTC update for December 06, 2023 - Potential for the downside correction

Technical analysis:

BTC/USD has been trading upside and the first objective has been reached at $44.000. Anyway, due to the bullish extension there is possibility for the downside correction towards lower reference.

Downside objective is set at the price of $42.500

RSI oscillator did show reading above 80 (extended) and there is the potential for the correction.

Key intraday resistance is set at the price of $45.500