FX.co - BTC update for April 12,.2023 - Potential for the upside continuation

2023-04-12T06:50:11

Relevance until2023-04-13

Technical analysis:

BTC update for April 12,.2023 - Potential for the upside continuation

BTC/USD has been trading upside as I expected and there is potential for the further upside continuation.

Due to the breakout of the tight triangle pattern in the background and strong upside trend, I see potential for the upside continuation.

Upside objectives are set at the price of $32.300 and $35.500

MACD oscillator is showing bullish reading, which is good sign for the further upside movement.

Short-term support is set at the price of $29.000

*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 April 12,.2023 - Potential for the upside continuation