BTC/USD Downside? 17 Dec 2021

Bitcoin is in a very red market this week, and we’re looking for the downside to continue further, below the $40,000 mark.

Technically the coin is holding below the 50% fibo level resistance. The RSI is also now trading at bearish levels, as is the MACD. Price is also capped below the resistance trendline.

Downside Target: 37,500

Violated Above: 53,300

BTC/USD 1H Chart, 17 December 2021

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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