FX.co - BTC update for January 23,.2023 - Potential for the upside continuation

2023-01-23T08:01:37

Relevance until2023-01-24

Technical analysis:

BTC update for January 23,.2023 - Potential for the upside continuation

BTC/USD has been downside corrective but there is the chance for the potential upside continuation.

Trading recommendation:

Due to the failed breakout of the support zone in the background, I see potential for the upside movement towards upside references.

Watch for the potential buying opportunities with the upside objectives at $22.970 and $23.350

MACD oscillator is showing decreasing of the downside movement, which is sign that sellers are losing power.

Key support is set at the price of $22.650

*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 23,.2023 - Potential for the upside continuation