FX.co - BTC update for January 11,.2023 - Breakout and hold above the trading range

2023-01-11T08:36:24

Relevance until2023-01-12

Technical analysis:

BTC update for January 11,.2023 - Breakout and hold above the trading range

BTC/USD has been trading upside this morning and I found breakout of the defined trading range, which is good sign for the further upside movement.

Trading recommendation:

Due to the breakout of the trading range in the background, I see potential for the further growth towards upside references.

Watch for the potential buying opportunities on the dips with the upside objective at $18.350.

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

Key support zone is set at the price of $17.300

*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 update for January 11,.2023 - Breakout and hold above the trading range