FX.co ★ BTC update for January 09,.2023 - Breakout of the trading range to the uspide

Technical analysis:

BTC/USD has been trading upside and I found breakout of the multi-week defined trading range, which is good sign that buyers are in control and that there is chance for further upside movement.

Trading recommendation:

Due to the breakout of the trading range in the background, I see potential for further upside movement towards the next reference point.

Watch for the potential buying opportunities with the upside objective at $18.000

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $16.900