FX.co - BTC update for January 30,.2023 - Breakout of the trading range to the upside

2023-01-30T07:53:50

Relevance until2023-01-31

Technical analysis:

BTC update for January 30,.2023 - Breakout of the trading range to the upside

BTC/USD has been trading upside as I expected and the price did breakout of the trading range, which is good sign for the further rise.

Trading recommendation:

Due to the breakout of the trading range in the background, I see potential for the further upside movement.

Watch for buying opportunities on the dips with the upside objectives at the price of $24.330 and $25.000

MACD oscillator is showing bull reading, which is good sign for the further upside continuation.

Key support is set at the price of $23.400

*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 30,.2023 - Breakout of the trading range to the upside