Market & Ticker: Bitcoin – BTC/USDC

Date: 16/04/2024

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

Scenario: 

The BTC is now in range in the last 4 weeks without a clear directional – geopolitcal risk is high (caution)

At current price, we adjust the Neutral case between 59900 and 73 000 wating for a break of those level in daily close to confirm a clear directional

Caution a break below 59900 would open 50K/48700 area before any new bullish move

Technical Key Elements:

• Range exit shows upside potential at 50 000
• RSI Indicator are challenging key support at 52
• The Moving average are mixed with the 21 days resistance and the 34 days Support
• Fibonacci key support is adjusted at 59900 while the key resistance is adjusted at 73 000 - 48700 is the standar dratio of wave (iv)

Trade Idea conclusion: Neutral

• Target up: 77 000 and 90 800
• Tactical Resistance: 73 000
• Tactical Support: 59 900
• Target down: 50 000 and 48 700

Chart: Daily Basis (Candle Stick) - Logarithmic 

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

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