FX.co ★ BTC update for January 04,.2023 - Key resistance zone at the price of $16.900 on the test

Technical analysis:

BTC/USD has been trading upside this morning as I expected and the price has reached first upside objective at $16.900. Key resistance is on the test and watch carefully price action to confirm further direction.

Trading recommendation:

In case of the breakout and hold above resistance zone at $16.900, watch for buying opportunities with the next upside objective at $17.300

In case of the rejection of the resistance zone, watch for selling opportunities with the downside objective at $16.655