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BTC analysis for December 24,.2021 – Watch for potential pullback play

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Technical
analysis:

BTCUSD
has been treading upside after the pullback as we expected. I see potential for further rise and potential test of $53,450

Trading
recommendation:

Due
to strong upside momentum in the background, I see potential for further rise.

My
advice is to watch for buying opportunities on the pullbacks with the
upside target at $53,458

Stochastic is in overbought area so BTC might need correction before another
upside cycle.

Key
support is set at the price of $48,000

The material has been provided by InstaForex Company – www.instaforex.com

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