FX.co - BTC update for January 27,.2023 - Potential for the upside breakout of the trading range

2023-01-27T08:38:35

Relevance until2023-01-28

Technical analysis:

BTC update for January 27,.2023 - Potential for the upside breakout of the trading range

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

Trading recommendation:

There is potential for the breakout of the trading range and the resistance zone at $23.300.

In case of the upside breakout, watch for buying opportunities on the dips with the upside objective at the price of $24.320

MACD is showing positive reading and strong upside trend in the background, which is good sign for the further upside movement.

Key support zone is set at $22.300

*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 27,.2023 - Potential for the upside breakout of the trading range