FX.co - BTC analysis for January 20,.2022

2022-01-20T15:33:30

Relevance until2022-01-21

Technical analysis:

BTC analysis for January 20,.2022 - Upside strong momentum

BTC has been trading upside in lasts few hours and I see potential for further rally.

Trading recommendation:

Due to impulsive momentum and the breakout to the upside, I see potential for the rally towards $44,000.

Watch for buying opportunities on the pullbacks with the upside objective at $44,000.

Stochastic is showing upside reading with no evidence for the reversal

MACD is showing upside reading with evidence for the reversal

Support level is set at $42,000

*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 20,.2022 - Upside strong momentum