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FX.co ★ BTC update for December 28,.2022 - Potential for the breakout of the range

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Crypto Analysis:::2022-12-28T14:02:23

BTC update for December 28,.2022 - Potential for the breakout of the range

Technical analysis:

BTC update for December 28,.2022 - Potential for the breakout of the range

BTC/USD has been trading downside this morning and I see potential for the potential breakout of the trading range.

Trading recommendation:

Watch for the potential breakout of the support zone at $16.500, to confirm further downside movement.

Watch for the potential selling opportunities below $16.500 with the downside objectives at $16.250 and $15.650.

MACD oscillator is showing downside reading, which is sign for the further downside movement.

Key resistance is set at the price of $16.950

Analyst InstaForex
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