FX.co ★ BTC update for January 26,.2023 - Upside objective has been reached

Technical analysis:

BTC/USD has been trading upside as I expected and the price has reached the upside objective at $23.400 but it also did rejection, which is sign of the sideways regime.

Trading recommendation:

Due to the rejection in the background from the key resistance zone, I see potential for the range development in the next period.

Key resistance is set at the price of $23.200 and watch for downside rotations around resistance with the downside objective at $22.500

Key support zone is set at the price of $23.400

In case of the upside breakout of resistance zone at $23.200, watch for buying opportunities with the upside objective at $24.325