BTC bull run pre-signal on going!

BTC MARKET_MINDS BULLISH

Market & Ticker: Bitcoin– BTC/USDT 

 

Date: 02/10/2023 


 
Horizon / Timing:  Tactical Mid-term / 1 to 3 months

 

 

 

Scenario: 
 

BTC maintains a capacity to hold above the key support at 25000 during the summer. The resistance at 29300 is still active, however all the statistical technical elements are oriented to the upside calling for a possible Bull Run start. 
 
At the current level, the 25600 key support area remains strong on a mid-term perspective, while RSI and Moving averages are now active in the bullish side. As long as 25600 Remains a daily support active a further direct bullish move is expected to 32600 which is the resistance to watch on the long term to clearly confirming the end of the bear market.  
 
In alternative a failure below 29300 in the coming days/weeks will increase the risk to penetrate 25600 before opening 23600 max 21300 before engaging a clear bull run scenario. 

 

Technical Key Elements: 


- RSI indicator is bullish above 50% 
- The Moving average are support 
- Fibonacci key support is adjusted at 25600 while the key resistance is adjusted at 29300 and 32600 

 
Trade Idea conclusion:  Neutral - Range 

 

:médaille:
:médaille:
Medium
 

Target 1: 32600 

Confirmation resistance: 29300 

Buy swing: add in dip area 27000 

Stop: 23600 

 

 

 

Chart: Daily Basis (Candle Stick) - Logarithmic  

 

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

 

 


 

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