FX.co - BTC update for January 03,.2023 - Breakout of the resistance zone and potential for further growth

2023-01-03T07:55:51

Relevance until2023-01-04

Technical analysis:

BTC update for January 03,.2023 - Breakout of the resistance zone and potential for further growth

BTC/USD has been trading upside as I expected and there is the potential for the further growth towards the upper references.

Trading recommendation:

Due to the breakout of the defined trading range to the upside, I see potential for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $16.900

Stochastic oscillator is showing fresh bull cross and potential for the further growth.

Key support is set at the price of $16.500

*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 January 03,.2023 - Breakout of the resistance zone and potential for further growth