FX.co - BTC update for February 03,.2023 - Support zone is on the test

2023-02-03T08:54:00

Relevance until2023-02-04

Technical analysis:

BTC update for February 03,.2023 - Support zone is on the test

BTC/USD has been trading downside this morning and I found that support zone at the price of $23.300 is on the test.

Trading recommendation:

Due to the strong upside long term trend in the background and test of the support, I see potential for the upside rotation today.

Watch for the potential buying opportunities with the upside objective at $23.890.

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

Key support is set at the price of $23.250

*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 February 03,.2023 - Support zone is on the test