FX.co ★ BTC update for December 19, 2023 - Key resistance on the test

Technical analysis:

BTC/USD has been trading upside today and the is testing key resistance level at $43.500, I see potential for the rejection or the breakout to the upside.

In case of the upside breakout of the resistance at $43.500, there is the chance for the rally towards $44.700 and $45.000

In case of the rejection of the resistance, there is the chance for the downside rotation towards lower reference at $40.600

RSI oscillator is showing reading above the 60, which is sign that buyers are in control.

Key resistance is set at the price of $43.500