BTC/USDT Consolidation on going towards 35500 – No Change
BULLISH
BTC
MARKET_MINDS
## Market & Ticker: Bitcoin – BTC/USDT
Date: 07/02/2024
## Horizon / Timing: Tactical Mid-term / 1 to 3 months
## Scenario:
The configuration of BTC is showing a pause configuration before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the perfect buying area is now set at 35500/32000 area before engaging the next upside trend. After having reached 390002 weeks ago the BTC is bouncing off in intermediate recovery to 45000 ideally before a new test of the support.
## Technical Key Elements:
- RSI Indicator was showing divergence but remains above 50% - The Moving average are now mixed / FLat - Fibonacci key support is adjusted at 35500 while the key resistance is adjusted at 50100 and 45000
## Trade Idea conclusion: Bearish
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: 07/02/2024
## Horizon / Timing: Tactical Mid-term / 1 to 3 months
## Scenario:
The configuration of BTC is showing a pause configuration before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the perfect buying area is now set at 35500/32000 area before engaging the next upside trend. After having reached 390002 weeks ago the BTC is bouncing off in intermediate recovery to 45000 ideally before a new test of the support.
## Technical Key Elements:
- RSI Indicator was showing divergence but remains above 50% - The Moving average are now mixed / FLat - Fibonacci key support is adjusted at 35500 while the key resistance is adjusted at 50100 and 45000
## Trade Idea conclusion: Bearish
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.
