FX.co - BTC update for January 17,.2023 - Trading range and potential for the breakout

2023-01-17T07:35:40

Relevance until2023-01-18

Technical analysis:

BTC update for January 17,.2023 - Trading range and potential for the breakout

BTC/USD has been trading sideways at the price of $21.000 but I see potential for the breakout play.

Trading recommendation:

In case of the upside breakout and hold above the level of $21.200, I see potential for the rally towards $22.000

In case of the downside breakout of the support zone at $20.600, watch for selling opportunities with the downside objective at $19.800

*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 17,.2023 - Trading range and potential for the breakout