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27.01.202310:38 Forex Analysis & Reviews: BTC update for January 27,.2023 - Potential for the upside breakout of the trading range

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Technical analysis:

Exchange Rates 27.01.2023 analysis

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

Petar Jacimovic
Analytical expert of InstaForex
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