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

2021-12-29T12:42:08

Relevance until2021-12-30

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

*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 29,.2021 - Downside breakout of contraction in the background