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17.12.202115:14 Forex Analysis & Reviews: BTC analysis for December 17,.2021 - Potential for another drop

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

Exchange Rates 17.12.2021 analysis

BTC has been trading downwards as I expected. The price is near the my main downside objective at the price of $46,645

Trading recommendation:

Due to downside momentum and consolidation near the support, there is chance for the downside movement.

Watch for selling opportunities with the downside objectives at $46,645 and $45,845

Stochastic oscillator is showing oversold condition but with fresh bear cross.

Key resistance is set at the price of $49,500

Petar Jacimovic
Analytical expert of InstaForex
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