FX.co - BTC update for December 13, 2023 - Potential for the further drop

2023-12-13T09:10:12

Relevance until2023-12-14

Technical analysis:

BTC update for December 13, 2023 - Potential for the further drop

BTC/USD has been trading sideways at the price of $41.200. I see potential for the breakout mode in the next period.

In case of the breakout of the support at $40.000 and hold below, there is the chance for the drop towards lower reference at $38.500

In case of the upside breakout of the resistance at $42.400, there is the chance for the rally towards $44.000

RSI oscillator is showing downside condition and potetnial for the further drop.

*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 13, 2023 - Potential for the further drop