Market & Ticker: Bitcoin – BTC/USDC

Date: 28/02/2024

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

Scenario:

Since end of January the BTC is on track to progress towards the next tactical resistances sets at 60000 (reached). At current price considering the new technical element we adjusted the tactical support from 47400 to 52400 to anticipate a breakout of 60000 and the progression towards 69000 historical tops before 77000.

As long as 52400 remains a tactical support valid, BTC is expected to progress towards 69000 level before the next strategic first target at 77000.

Caution : only a clear break in daily close above 60000 will confirmed the direct bullish acceleration – Else a near term consolidation can occur to 52400 before engaging the rise 

Technical Key Elements:

• Bullish channel exit shows upside potential above 77 000 (NEW)
• RSI Indicator remains in positive area
• The Moving average are still support and are accelerating to the upside (Positive)
• Fibonacci key support is adjusted at 47400 while the key resistance is adjusted at 52400 and 60 000

Trade Idea conclusion: Bullish

• Target 2: 77000
• Target 1: 69000
• Confirmation: 60000
• Tactical Support: 47400
• Alternative Target 1: 39 600 and 37 200

Chart: Daily Basis (Candle Stick) - Logarithmic

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

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