BTC/USDT - BTC is in unclear configuration – wait for clear directional signal
Market & Ticker: Bitcoin – BTC/USDT
Date: 05/04/2024
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 – Both directions are possible
At current price, we turn Neutral between 63900 and 70000 wating for a break of those level in daily close to confirm a clear directional
Technical Key Elements:
- Bullish channel exit shows upside potential above 90800
- RSI Indicator remains in positive area above 52%
- The Moving average are still support and are accelerating to the upside (Positive)
- Fibonacci key support is adjusted at 63900 while the key resistance is adjusted at 70 000 and 77 000
Trade Idea conclusion: Neutral
- Target up: 77 000
- Tactical Resistance: 63900
- Tactical Support: 63900
- Target down: 55 900 and 48700
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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