BTC USDT Upside confirmation level 24400 reached what next

Brian Leclere - 21 July 2022 - APP BTC MARKET_MINDS SHORT_TERM

—- Short-term Analysis for the next coming days – Hourly Chart (LOG)——-

BTC/USDT: Upside confirmation level @ 24400 reached – what next?

Context
– The BTC reversed up above yearly key support at 18880 (excess 17900) before drawing a start of bullish reversal in parallel of ETH and Nasdaq and SP500
– The short-term upside potential at 24400 has been reached, now what to focus on to follow the actuel bullish momentum (see below)

previous analysis 11/07/2022 :

BTC/USDT: Bullish set up above 18800/19800 (update)

Market configuration

– Graphical Elements :
Graphical Resistance = 24400 & 26700
Graphical Support = 18800 & 20780

– Mathematical Indicators:
EMA ( Exp Moving averages) are support with a ”golden cross” = Bullish
RSI indicator (below) is progressing within positive area above 50% = Bullish to Neutral

– Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (4) has been already reached = 18800
Fibonacci support of the wave in progress (III) = 20780
Fibonacci Bullish Target = 26700
Fibonacci Bearish Target = 18800

Conclusion

Preferred case => As long as 20780 remains support, we are focus on a bullish breakout of 24400 in order to give the final confirmation for a bullish reversal and open 26700 max 29000 area
Alternative case => Breaking 20780 new bearish attack towards 18800 will occur ( double bottom )

Source: 0wh8ptqn BTC USDT Upside confirmation level 24400 reached what next

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