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19.12.202310:43 Forex Analysis & Reviews: BTC update for December 19, 2023 - Key resistance on the test

Technical analysis:

Exchange Rates 19.12.2023 analysis

BTC/USD has been trading upside today and the is testing key resistance level at $43.500, I see potential for the rejection or the breakout to the upside.

In case of the upside breakout of the resistance at $43.500, there is the chance for the rally towards $44.700 and $45.000

In case of the rejection of the resistance, there is the chance for the downside rotation towards lower reference at $40.600

RSI oscillator is showing reading above the 60, which is sign that buyers are in control.

Key resistance is set at the price of $43.500

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

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2024
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