FX.co ★ BTC update for December 11, 2023 - Rejection fo the key support

Technical analysis:

BTC/USD has been trading downside and the market has reached our first downside objective at $40.500. I found strong rejection and pinbar, which now became major low reference.

In case of the upside rotation into the $43.500, there is the chance for the rally towards $44.800

In case of the downside breakout of the pin bar low at $40.490 and hold below, there is the chance for the drop towards $38.400

RSI oscillator is is showing responsive upside movement