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FX.co ★ BTC analysis for January 31,.2022 - Sideways regime and potential for breakout play

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Crypto Analysis:::2022-01-31T13:54:10

BTC analysis for January 31,.2022 - Sideways regime and potential for breakout play

Technical analysis:

BTC analysis for January 31,.2022 - Sideways regime and potential for breakout play

BTC/USD is still trading inside of the trading range and there is potential for the breakout mode.

Trading recommendation:

Due to sideways condition on the BTC/USD at the price of $37,200, I see potential for the breakout play.

In case of the breakout of the resistance at $39,700, watch for upside opportunities towards $43,765

In case of the downside breakout of support at $35,600, watch for selling opportunities towards $33,000 and $30,145

Analyst InstaForex
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