Market Technical Analysis by RoboForex

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BTCUSD aims to set a new local high

BTCUSD recovered from the decline that followed the Federal Reserve's rate hike. The current price is 81,550. 

Technical outlook

BTCUSD is trading in an uptrend. The price is testing the resistance level at 81,885 USD. Support has formed at 74,890 USD. The price has been trading within this range since the end of August this year.

In the short term, BTCUSD is in a consolidation phase, while the fundamental backdrop is more likely to restrain growth.

Read more - BTCUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team