KEY LEVELS UPDATE FOR BTCUSDT: 12/01/2023

Divergence formed between the price and RSI 14-period indicating potential bearish trend. However, key levels were detected and these levels provides a very narrow space for price to hover. Confluence of key levels are observed between 38658.8 and 38746.5. This means that if price closed beyond these level, price may form a new higher high or new lower lows.

At the moment, watch for the price in the 38658 level. A break of this level could mean that it could reach the 38400 level. On one hand, price closing beyond the 38750 level will indicate potential breakout of the resistance zone.

Based on this observation, I would place a BUY order if price enters the level between 38660 and 38460.

/please DYOR/trade at your own risk