BTC reached intermediate target at 25100 – Tactical support adjusted at 21300


Market & Ticker: Bitcoin - BTC/USDT 


Date: 16/02/2023 

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

25100 intermediate target reached. In our last Tactical mid-term analysis (31 January 2023) we anticipated a further rise towards 28800 with an intermediate target at 25100 as long as 19750 was a Tactical Support valid. 




Bitcoin is expected to progress towards the next upside target. 

At the current level, we expect a further bullish extension toward 28800 (+20%) as long as 21300 remains a tactical support valid in daily close. 


Technical Key Elements: 


- The long-term trend analysis shows potential towards 28800 (+20%) before 32600 (36%) as long as 10200 Strategic support remains valid. 
- The RSI is in positive area with upside potential (No divergence -purged) 
- The Moving average crossed to the upside = Double golden cross confirming a strong bullish signal 
- Fibonacci key support is adjusted at 21300 while the Elliot wave shows upside potential towards 28800  

NB: ETH/BTC cross is close to support meaning that BTC should outperform ETH the coming next 1 or 2 weeks before seeing the long-term ETH outperformance re-activated 

Trade Idea conclusion:

Buy - Conviction


Target 2: 32600 (36%) 


Target 1: 28800 (20%) 


Buy: add in dip area 23300  


Stop: 21300(-10%) 




Chart: Daily Basis (Candle Stick) - Logarithmic  


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



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