Update: 19100 target reached and surpassed (BTC)

MARKET_MINDS BTC BULLISH

BTC Mid-term

 

In our last Tactical mid-term analysis (24 Novembre 2022) we defined a price action range between 15650 and 22650 with a recovery expected within the range towards 19100 and 22650 as long 15650 remained Tactical support

 

image.png

 

Scenario : 

 

We expect a further bullish extension toward 22650 extension (+9%) - We will observe the market and its capacity to print a daily close above 22650 to open a larger upside potential towards 28800 (+40%)

 

Key Elements:


- The long-term trend analysis show potential towards 28800 (+40%) before 32600 (58%) as long as 10200 Strategic support remains valid.
- The mid-term element as RSI is in positive area with upside potential (No divergence)
- The Moving average are crossing to the upside (bullish signal)
- Fibonacci key support is adjusted at 16950 as tactical support while the Elliot wave shows upside potential towards 28800 in case of 22650 upside breakout.

 

NB : BTC is underperforming ETH, ETH is better to play the crypto market recovery

 

Trade Idea : Buy - Conviction : :médaille::médaille:(Medium)

  •  
  • Target to consider in case of 22650 breakout = 28800 (40%) // 32600 (+58%)
  • Target 1: 22650 (8%)
  • Buy: add in dip
  • Stop: 16950 (-19%)

  •  

 

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