Market & Ticker: Bitcoin – BTC/USDC 

Date: 11/11/2024 

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

 

Scenario:  
 
The Bitcoin (BTC) exited a wide descending trading range pattern Since March 2024 opening the next long-term potential towards 103 000. The recent US result election combining with strong macroeconomic statistic in the US will increase the US rate cut pace with a FED rate decision expected 4% in 2025.  
 
We are now entering in a new cycle where the highest risk asset class will benefit from money flow from low risk asset class pushing the trend of the US stocks market and Bitcoin higher. 
 
The BTC reached 82300 intermediate tactical target 2. We adjust the tactical support from 63000 to at 72900 to anticipate a further recovery towards 93 000 and 103 000 

Technical Key Elements:

• RSI indicator is positive without divergence 
• The Moving average are support 
• Fibonacci key resistance area at 103 000 and support at 72900 
• Elliot wave pattern is calling for a new upside trend in wave 5 V 

Trade Idea conclusion: Buy 

• Tactical Bullish Target Max : 103 000 
• Tactical target : 93 000 
• Tactical Pivot support: 72 900 
• Tactical alternative bearish target: 64700 

Chart: Daily Basis (Candle Stick) - Logarithmic  

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

 Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.