empty
 
 
04.12.2023 10:37 AM
BTC update for December 04, 2023 - First upside objective has been reached, potential for the further rally

Technical analysis:

This image is no longer relevant

BTC/USD has been trading upside as I expected and the market reached first projected upside objective at $40.350. Buyers are still in control and there is chance for the further rally.

Due to the strong breakout of the ascending triangle in the background and the buyers in control, there is the chance for the further rally towards next upside reference.

Upside objective is set at the price of $45.000

RSI oscillator is showing reading about 80 level, which is sign that market might be overextend with potential for the pullback.

Support level is set at the price of $38.500

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback