FX.co - BTC update for January 20,.2023 - Potential for the upside continuation

2023-01-20T08:17:10

Relevance until2023-01-21

Technical analysis:

BTC update for January 20,.2023 - Potential for the upside continuation

BTC/USD has been trading sideways at the price of $20.960. I see potential for the further rise towards the upside resistance zone.

Trading recommendation:

Due to the rising trend line in the background and rejection of the support zone in the background, I see potential for the further rise.

Watch for the potential buying opportunities with the upside objective at $21.570.

Stochastic Oscillator is showing oversold condition and potential for the fresh bull cross.

Key support is set at the price of $20.700

*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 20,.2023 - Potential for the upside continuation