FX.co - BTC analysis for January 31,.2022 - Sideways regime and potential for breakout play

2022-01-31T13:54:10

Relevance until2022-02-01

Technical analysis:

BTC analysis for January 31,.2022 - Sideways regime and potential for breakout play

BTC/USD is still trading inside of the trading range and there is potential for the breakout mode.

Trading recommendation:

Due to sideways condition on the BTC/USD at the price of $37,200, I see potential for the breakout play.

In case of the breakout of the resistance at $39,700, watch for upside opportunities towards $43,765

In case of the downside breakout of support at $35,600, watch for selling opportunities towards $33,000 and $30,145

*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 31,.2022 - Sideways regime and potential for breakout play