FX.co - BTC update for January 24,.2023 - Potential for the upside continuation

2023-01-24T08:33:36

Relevance until2023-01-25

Technical analysis:

BTC update for January 24,.2023 - Potential for the upside continuation

BTC/USD has been trading sideways and I found the defined trading range. I see potential for the breakout play.

Trading recommendation:

Due to the sideways condition, I see potential for the breakout play if the price breaks key resistance zone at $23.350.

Watch for the potential buying opportunities in case of the upside breakout of $23.350 with the upside objective at $24.330

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

Key support is set at the price of $22.350

*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 24,.2023 - Potential for the upside continuation