FX.co - BTC analysis for December 28,.2021 - Contraction and potential for downside continuation

2021-12-28T13:14:13

Relevance until2021-12-29

Technical analysis:

BTC analysis for December 28,.2021 - Contraction and potential for downside continuation

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

Trading recommendation:

Key pivot resistance is set at the price of 1,1350/80.

Due to strong downside momentum in the background and contraction in last few hours, I see potential for the downside continuation.

Watch for selling opportunities in case of the downside breakout of contraction.

Downside objectives will be st at $48,100 and $45,785

Stochastic is showing overbought condition and potential for rally first..

Resistance level is set at $49,500

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for December 28,.2021 - Contraction and potential for downside continuation