FX.co ★ BTC update for December 08, 2023 - Breakout of the triangle pattern in the background

Technical analysis:

BTC/USD has been trading downside this morning an I found breakout of the tight triangle pattern in the background, which is good sign for further downside movement.

Due to the breakout of the triangle pattern in the background and the downside reading on the RSI oscilaltor, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $42.450 and $41.520

RSI oscillator showing downside reading around 40 level

Key resistance is set at the price of $44.500