BTC/USDT: Bullish set up above 18800/19800 (update)
Brian Leclere - 11 July 2022 - APP BTC MARKET_MINDS SHORT_TERM
—- Short-term Analysis for the next coming days – Hourly Chart (LOG)——-
Context
– The BTC reversed up above yearly key support at 18880 (excess 17900) before drawing a start of bullish reversal within a bullish channel
– The short-term upside potential is 24400 for now (tactical upside confirmation level on the mid-term basis)previous analysis 29/06/2022 :
Market configuration
– Graphical Elements :
Graphical Resistance = 24400 & 22500
Graphical Support = 18800 & 19800
– Mathematical Indicators:
EMA ( Exp Moving averages) are mixed = Neutral
RSI indicator (below) is progressing within a bullish channel = bullish
– Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (4) has been already reached = 18800
Fibonacci support of the wave in progress = 19500
Fibonacci Bullish Target = 24400
Fibonacci Bearish Target = 16600
Conclusion
Preferred case => As long as 18800 remains support, we are focus a bullish upside swing towards 21700 and 24400 the tactical upside confirmation level
Alternative case => Breaking 18800 new bearish attack towards 16600 will occur
Source: BTC/USDT: Bullish set up above 18800/19800 (update) for COINBASE:BTCUSD by JeanJean1983
