BTC/USDC - (Bullish) BTC surpassed 103 000$ long-term standard target. We adjust the support at 96000$ to follow the BTC to 116 000$
Traduction faite par Deepl pro
Market & Ticker: Bitcoin – BTC/USDC
Date: 17/12/2024
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 (reached). 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.
With 103 000 surpassed this week on BTC we are comfortable to open the potential at 116 000$ - the key support is set at 96000$.
Technical Key Elements:
- RSI indicator is showing new bullish signal – no more divergence (purged)
- The Moving average are support at 96000
- Fibonacci key resistance area at 116 000 and support at 96000
- Elliot wave pattern is calling for a push up in wave (v) 3
Trade Idea conclusion: (Neutral)
- Strategic target max: 140 000
- Tactical target: 116 000
- Tactical support: 96000
- Tactical alternative bearish target: 85 000 and 80 000
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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