BTC/USDC - (Target Reached) BTC is evolving in consolidation without clear direction
Traduction faite par Deepl pro
Market & Ticker: Bitcoin – BTC/USDC
Date: 10/05/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
After having penetrated 60 000$ recently the BTC failed to accelerate significantly to the downside. The technical situation remains unclear (Neutral). Last week the bearish scenario below 64 200$ hs been challenged with a test of 64 200$, we turn Neutral at current level.
For the time being a break above 64 400$ key resistance would open a potential towards 69 500$ and max 77 000$ in extansion
However a failure below 64 400$ with a break of 58 900$ as key support the BTC will continue to progress in consolidation towards 53 900 and 48 700$
Technical Key Elements:
- Downside flag (Orange) potential at 53 900
- RSI Indicator is neutral
- The Moving average are resistance at 64200
- Fibonacci key support is adjusted at 53900 and 48700
Trade Idea conclusion: Bearish
- Tactical Targets up: 71500 and 77000
- Tactical Resistance: 64200
- Tactical Support: 58900
- Tactical targets down: 53900 and 48700
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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