BTC/USDT - (Bullish) BTC confirmed direct bullish move to 77 000 and 89 000

Market & Ticker: Bitcoin – BTC/USDT

Date: 26/03/2024

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

Scenario: 

The BTC consolidated the last past two week towards 60 000 area as expected before engaging a new bullish dynamic.

At current price, as long as 63900 remains a tactical support valid, BTC is expected to progress towards 77 000 level before the next strategic first target at 89 000.

Technical Key Elements:

• Bullish channel exit shows upside potential above 89 000 
• RSI Indicator remains in positive area above 50%
• The Moving average are still support and are accelerating to the upside (Positive)
• Fibonacci key support is adjusted at 63900 while the key resistance is adjusted at 77 000 and 103 000

Trade Idea conclusion:  Bullish

• Target 2: 89 000
• Target 1: 77 000
• Tactical Support: 63900
• Alternative Target 1: 55 900  and 48700

Chart: Daily Basis (Candle Stick) - Logarithmic 

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

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