FX.co ★ BTC update for December 05,.2022 - Potential for bigger rally

Technical analysis:

BTC/USD has been trading upside as I expected and the price is heading towards the main upside objective. I see potential for further growth due to the breakout of key supply trend-line in the background.

Trading recommendation:

Due to the breakout of the supply trend-line in the background, I see potential for further growth towards the Pitchfork median line.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $21.400.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $15.800