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FX.co ★ BTC analysis for December 29,.2021 - Downside breakout of contraction in the background

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Crypto Analysis:::2021-12-29T12:42:08

BTC analysis for December 29,.2021 - Downside breakout of contraction in the background

Technical analysis:

BTC analysis for December 29,.2021 - Downside breakout of contraction in the background

BTC has been trading downside today and yesterday and I see potential for the downside continuation.

Trading recommendation:

Due to strong downside momentum in the background, I see potential for the bearish condition to continue.

Watch for selling opportunities on the intraday rallies wit the downside objectives at $45,475 and $42,110.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside movement.

Key resistance is set at 52,000

Analyst InstaForex
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