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22.12.2023 10:10 AM
BTC update for December 22, 2023 - Rejection of the key resistance

Technical analysis:

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BTC/USD has been trading downside this morning and I found rejection of the key resistance zone at $44.000, which is sign for the potential downside movement.

Due to the rejection of the key resistance zone at $44.000 and bearish divergences on the RSI oscillator, I see potential for the further downside movement.

Downside objective is set at the price of $41.640 and $40.450

RSI oscillator is showing bearish divergences around 60 level, which is good sign for the further downside movement.

Petar Jacimovic,
Analytical expert of InstaTrade
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