FX.co - BTC analysis for January 12,.2022 - Broken consolidation to the upside

2022-01-12T14:46:09

Relevance until2022-01-13

Technical analysis:

BTC analysis for January 12,.2022 - Broken consolidation to the upside

BTC has been trading upside today and there is potential for the bigger rise towarrds upper distribution.

Trading recommendation:

Due to the breakout of the consolidation to the upside, I see potential for the rally towards previous range.

Watch for the buying opportunities on the pullbacks with the upside objectives at $45,425 and $47,000.

Key support level is set at $42,250

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for January 12,.2022 - Broken consolidation to the upside