BTC/USDT Consolidation on going towards 35500
BTC
BEARISH
MARKET_MINDS
Traduction faite par Deepl pro
## Market & Ticker: Bitcoin – BTC/USDT
Date: 16/01/2024
## Horizon / Timing: Tactical Mid-term / 1 to 3 months
## Scenario:
The configuration of BTC is showing a risk of pause before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the probability of seeing a pause to 35500 remains high before engaging the next upside trend. After having reached 47600 last week we turned bearish to monitor the consolidation towards 35500. ## Technical Key Elements:
- RSI Indicator was showing divergence but remains above 50% - The Moving average are now mixed - Fibonacci key support is adjusted at 35500 while the key resistance is adjusted at 50100 and 46200
## Trade Idea conclusion: Neutral
• Alternative Target 1: 60000 • Tactical resistance: 50100 • Target 1: 35500 • Target 2: 32000
## 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.
Date: 16/01/2024
## Horizon / Timing: Tactical Mid-term / 1 to 3 months
## Scenario:
The configuration of BTC is showing a risk of pause before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the probability of seeing a pause to 35500 remains high before engaging the next upside trend. After having reached 47600 last week we turned bearish to monitor the consolidation towards 35500. ## Technical Key Elements:
- RSI Indicator was showing divergence but remains above 50% - The Moving average are now mixed - Fibonacci key support is adjusted at 35500 while the key resistance is adjusted at 50100 and 46200
## Trade Idea conclusion: Neutral
• Alternative Target 1: 60000 • Tactical resistance: 50100 • Target 1: 35500 • Target 2: 32000
## 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.
