Market & Ticker: Bitcoin– BTC/USDT
Date: 10/01/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
The configuration of BTC is showing a risk of pause before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the probability of seeing a pause to 33500 remains high before engaging the next upside trend towards 77000
We remains neutral between 41200 and 50100 to wait for clearer signal.
Technical Key Elements:
- RSI Indicator was showing divergence but remains above 50%
- The Moving average are support
- Fibonacci key support is adjusted at 41200 while the key resistance is adjusted at 50100
Trade Idea conclusion: Neutral
- Target 1: 60000
- Neutral resistance: 50100
- Neutral support: 41200
- Target 1: 33500
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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