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

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

Petar Jacimovic,
Analytical expert of InstaTrade
© 2007-2025
Earn on cryptocurrency rate changes with InstaTrade
Download MetaTrader 4 and open your first trade

Recommended Stories

Bitcoin quickly loses all recent gains

Yesterday, Bitcoin and Ethereum quickly gave up all their gains after large purchases seen during Asian trading hours. However, this profit-taking can be considered largely speculative, as major market players
Jakub Novak 10:19 2025-08-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 12

Ethereum has been experiencing significant volatility lately. Yesterday, we saw a sharp surge in Ethereum's value, following Bitcoin's lead, but this surge quickly subsided, with prices returning to more stable
Miroslaw Bawulski 09:49 2025-08-12 UTC+2

Bitcoin reaches $122K

Since the start of Asian trading, Bitcoin has climbed from $118,000 to $122,000, with no signs of selling pressure in sight. Ethereum has topped $4,300, supported by positive macroeconomic news
Jakub Novak 09:22 2025-08-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 11

Bitcoin is aiming for a new all-time high, currently trading above $122,000. Ethereum is also nearing its record of over $4,400, suggesting the continuation of a bullish market that appeared
Miroslaw Bawulski 08:38 2025-08-11 UTC+2

Bitcoin touches $117,500

During this morning's session, Bitcoin updated its level to $117,500. The key task for buyers now will be to keep trading above the $116,000 mark. Ethereum also refreshed its high
Jakub Novak 11:44 2025-08-08 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 8

Earlier this week, many were worried that Bitcoin might plunge sharply toward the 110,000 level, fearing a deeper correction toward 100,000. However, market sentiment has since shifted in the opposite
Miroslaw Bawulski 09:07 2025-08-08 UTC+2

Cardano has the potential for a correction to test its pivot level in the near future. Friday, August 08, 2025.

Cardano – Friday, August 08, 2025. With the EMA(50) positioned above the EMA(200) and the RSI(14) indicator in Extreme-Bullish conditions, it appears that buyers are currently dominant. However, the appearance
Arief Makmur 07:39 2025-08-08 UTC+2

Despite the potential for a correction, Uniswap still has a healthy bullish bias. Friday, August 08, 2025.

Uniswap – Friday, August 08, 2025. The Golden Cross condition of both EMAs and the RSI(14) in the Neutral-Bullish area indicates potential for strengthening today. However, the appearance
Arief Makmur 07:39 2025-08-08 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 7

Bitcoin remains within a newly formed sideways channel, once again attempting yesterday to break above the 115,500 level. Ethereum also shows resilience, which is confirmed by recent activity metrics
Miroslaw Bawulski 08:48 2025-08-07 UTC+2

SEC no longer considers staking offer or sale of securities

Bitcoin is hitting lows more often than it is reaching local highs. Every major rally is followed by slow and steady sell-offs, a pattern that suggests a broader crypto market
Jakub Novak 11:28 2025-08-06 UTC+2
Online
support

InstaTrade video
analytics

Daily analytical reviews

InstaTrade Bonuses

All InstaTrade bonuses

Trading Instruments

The best instruments for successful online Forex trading.
MetaTrader Trading Platform
Charts on-line
Forex Analysis
Forex Demo Account
Forex Calculator
Forex Indicators
Trading Symbols
InstaTick Trader
InstaTrade Gadget
banner
InstaTrade
video analytics

Official partners of InstaTrade

The future is coming - InstaTrade and Dragon Racing
The team of Formula - E
Be always the first with InstaTrade Loprais Team
Official participant of the Dakar rally
Team up with us -
win with InstaTrade and Zvolen!
IIHF Continental Cup winner in 2005

Top analytics

Relevance up to 19:00 2025-08-13 UTC--5
EUR/USD Overview – August 13: Trump and China Reached an Agreement — Again, Temporarily
03:49 2025-08-13
Fundamental analysis
Relevance up to 19:00 2025-08-13 UTC--5
GBP/USD Overview – August 13: Waiting for Friday...
03:49 2025-08-13
Fundamental analysis
Relevance up to 19:00 2025-08-13 UTC--5
Trading Recommendations and Trade Breakdown for EUR/USD on August 13 – The Inflation Report Ruined Everything
03:49 2025-08-13
Trading plan
Relevance up to 19:00 2025-08-13 UTC--5
Trading Recommendations and Trade Breakdown for GBP/USD on August 13 – The Pound Surprised Traders
03:49 2025-08-13
Trading plan
Relevance up to 13:00 UTC--5
Could there have been an "error" in the inflation report?
00:29 2025-08-13
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.