FX.co ★ BTC update for December 26, 2023 - Downside breakout of the triangle pattern

Technical analysis:

BTC/USD has been trading downside as I expected and there is still chance for the further downside movement.

Due to the breakout of the triangle pattern and the rejection of the key resistance cluster, I see potential for the furthert drop towards lower references.

Downside objectives are set at the price of $41.750 and $40.500

RSI oscillator is showing reading below 40, which i sign that sellers are in control.

Key resistance is set at the price of $44.700