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25.12.2023 10:52 AMTechnical analysis:
BTC/USD has been trading downside in the background but I found that supply overcame demand and rejection of the key resistance at $44.200, which is good sign for the further downside movement.
Due to the rejection fo the resistance level in the background and supply present, I see potential for the further drop towards lower references.
Downside objectives are set at $41.680 and $40.500
RSI oscillator is showing downside rotation toward 50 level and bearish divergences in the background, which is sign for the downside movement.
Key resistance is set at $44.800
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