BTC analysis for December 01,.2021 - Potential for the breakout of the cluster

Technical Analysis:

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BTC has been trading upside today but I see potential for the further upside movement and breakout of the cluster at the price of $59,900.


Trading recommendation:
Due to oversold condition in the background there is potential for the further upside movement.

Watch for buying opportunities on the pullbacks and potential for test of $60,000 and $62,250.

Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside rotation.

Key support based on the daily time-frame is set at the price of $53,200





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Petar Jacimovic
Analytical expert of InstaForex
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