Market & Ticker: Bitcoin – BTC/USDT
Date: 03/08/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
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:
 | | Medium |
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)
