BTC/USDT (Bullish) BTC on track towards 60 000


Market & Ticker: Bitcoin – BTC/USDT

Date: 12/02/2024

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


Since January 2024 the BTC was in ‘’pause’’ configuration prior to halving in April. Last week the technical elements in place to maintain an extension of the pause have been invalidated with a test of 50 100 key resistance – We update the mid-term view from bearish (consolidation in range) to bullish.

As long as 42 000 remains a tactical support valid, BTC is expected tp progress towards 52 200 level considered as an acceleration level (upper part of the channel) to liberate the potential towards 60 000

Technical Key Elements:

  • RSI Indicator bouncing off 50% area (Positive)
  • The Moving average are now support and are accelerating to the upside (Positive)
  • Fibonacci key support is adjusted at 42 000 while the key resistance is adjusted at 52 200 and 60 000

Trade Idea conclusion: Bullish

Target 2: 60 000

Target 1: 52 200

Tactical Support: 42 000

Alternative Target 1: 39 600 and 37 200

Chart: Daily Basis (Candle Stick) - Logarithmic

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


Disclaimer : The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering. logo


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