Bitcoin confirmed a larger recovery

MARKET_MINDS BULLISH BTC

Date: 31/01/2023 
 
Horizon / Timing:  Mid-term / 1 to 3 months 
 
Update:  

22650 upper limit reached and surpassed. In our last Tactical mid-term analysis (15 January 2023) we defined a price action range between 16950 and 22650 with a recovery expected within the range towards 22650 as long 16950 remained Tactical support. 

 

Scenario:  

Bitcoin confirmed a larger recovery with a clear break above 22650 last week. 

At the current level, we expect a further bullish extension toward 28800 (+25%) with an intermediate target at 25100 in the short-term as long as 19750 remains a tactical support valid in daily close. 

Technical Key Elements: 

- The long-term trend analysis shows potential towards 28800 (+25%) before 32600 (40%) as long as 10200 Strategic support remains valid. 
- The RSI is in positive area with upside potential (No divergence) 
- The Moving average crossed to the upside = Double golden cross confirming a strong bullish signal 
- Fibonacci key support is adjusted at 19750 while the Elliot wave shows upside potential towards 25100 first before 28800  

NB: ETH/BTC cross is close to support meaning that BTC should outperform ETH the coming next 2/3 weeks before seeing the long-term ETH outperformance re-activated 

 

 

Trade Idea conclusion: Buy - Conviction:
:médaille:
:médaille:
:médaille:

(High) 

 

 

Target 2: 28800 (25%) 

Target 1: 25100 (9%) 

Buy: add in dip area 21300 to 23570 

Stop: 19750 (-19%) 

  

 

 

Chart: Daily Basis (Candle Stick) - Logarithmic  

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

 


 

 

Trading Paper – Proprietary Wealth Bot (AKT) 

 

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Learn

News

Glossary

AKT Academy

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.