BTC/USDT Consolidation on going towards 35500 – No Change

BTC BULLISH MARKET_MINDS

Market & Ticker: Bitcoin – BTC/USDT

Date: 28/01/2024

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

Scenario:

The configuration of BTC is showing a pause configuration before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the perfect buying area is now set at 35500/32000 area before engaging the next upside trend.

After having reached 39000 last week the BTC is bouncing off in intermediate recovery to 45000 ideally before a new test of the support.

Technical Key Elements:

  • RSI Indicator was showing divergence but remains above 50%

  • The Moving average are now mixed

  • Fibonacci key support is adjusted at 35500 while the key resistance is adjusted at 50100 and 45000

Trade Idea conclusion: Bearish

Alternative Target 1: 60000 Tactical resistance: 50100 Target 1: 35500 Target 2: 32000

Chart: Daily Basis (Candle Stick) - Logarithmic

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

B.png

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.

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.