Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
Bitcoin is expected to progress towards 32600. A break above 32600 in daily close would open the next upside target at 36200 and 39000
As long as 28230 remains a support valid in daily close a direct bullish move is expected
Technical Key Elements:
- BTC keeps potential to test the form Breakout: Bear Market area at 36200/39000
- RSI indicator is positive with a bullish signal valid and upside potential
- The Moving average crossed to the upside and act as support above 28230
- Fibonacci key support is adjusted at 28230 while the Elliot wave shows upside potential towards 36200 and 39000
NB: ETH/BTC cross is still calling for BTC outperforming
Trade Idea conclusion: Buy
Conviction:
 | | | High |
Target 2: 39000
Target 1: 36200
Upside confirmation level at 32600 (Daily close)
Buy: add in dip area 30300
Stop: 28300
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
