FX.co ★ BTC update for February 01,.2023 - Watch for the breakout of the range

Technical analysis:

BTC/USD has been trading sideways at the price of $23.000, I see potential for the breakout play in the next period.

Trading recommendation:

Due to the strong upside trend in the background, watch for potential breakout of the resistance zone at $23.300 to confirm further upside continuation.

Upside objective is set at the price of $24.000.

MACD Oscillator is showing upside reading, which is good sign that buyers are in control.

Key support is set at the price of$22.500