BTC still on track within the upside trend




Market & Ticker: Bitcoin – BTC/USDT 


Date: 03/08/2023 

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



BTC is still progressing within an ascending bullish channel after having trading range the last past 3 weeks. A direct bullish dynamic remains more likely 
As long as 28200 remains a tactical support valid a direct bullish move towards 32600 tactical confirmation level is expected – once this level is bypassed BTC will start an acceleration towards 36200 and 39000 a head of the halving 



Technical Key Elements: 


- Bullish channel is support at 28200 
- RSI indicator is close to lower part of the channel 
- The Moving average are acting as support on the near-term 
- Fibonacci key support is adjusted at 28200 while the Elliot wave shows upside potential towards 32600 and 36200 

Trade Idea conclusion:  Buy - Conviction:




Target 2: 36200 

Target 1: 32600 

Buy: add in dip area 29000 

Stop: 28200 




Chart: Daily Basis (Candle Stick) - Logarithmic  

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


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