10.01.202310:11 Forex Analysis & Reviews: BTC update for January 10,.2023 - Breakout and hold above the trading range

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

BTC/USD has been trading upside as I expected and the price did price broke out of the well defined trading range, which is good sign for the further upside movement.

Trading recommendation:

Due to the breakout of the defined trading range and natural pullbacks, I see potential for further upside movement towards main objective.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $18.000.

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

Key support is set at the price of $16.900

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade