Further Downside Movement Is Expected For The Bitcoin Market
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Technical analysis:
BTC/USD has been trading downside and I found rejection of the key resistance cluster at $17.000. There is chance for further downside movement.
Trading recommendation:
Due to the rejection of the strong resistance at $17.000, I see potential for the further downside movement towards lower references.
Watch for the potential selling opportunities on the rallies with the downside objective at the price of $15.640.
MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.
Key support is set at the price of $15.640
Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
