BTC/USD Technical Analysis
Context : BTC /USD reached the 65K target area before starting to pause within the long-term bullish trend .
We will see that there is no sign for now to anticipate a dislocation of the bullish trend on Strategic horizon as long as 28200 remains support.
However the current Tactical horizon is showing a classic consolidation dynamic in progress and we will see how to profit of this configuration
Strategic Horizon (1 to 6 Month Basis)
The Weekly technical elements are positive and mixed respectively.
Watching at the Weekly key elements the Moving averages are support with momemtum accumulation while RSI is still keeping upside potential above 50% without Divergence.
The Elliot wave analysis show a nice impulsive move in progress with a massive momentum print within the wave (III) - The followers - and we can now be confident to see a last impulsive move in wave (V) in the coming weeks in order to print new highs at 77000 (max 100K but less probable).
Key support at 28200 => Target at 77 000
Tactical Horizon (1 to 3 weeks)
The Daily technical elements are mixed due to the lateral configuration in progress - Moving averages 21 & 55 are flattening and the RSI is a bit lost around 50% with now clear directional but with a potential to print lower to test the lower band of the indicator.
Analysing the Elliot wave dynamic, there is no surprise to see this kind of element on the daily chart , the wave (IV) is most of the time providing a ZIGZAG down pattern or a Triangle Pattern = Range.
Wave 4 are offering swing trading opportunity but a bit more tricky to catch as the Wave 2, in case of triangle you must be fast and precise to make money by selling the market however buying the dips with fresh cash make totally sense - if you already take some profit between 61 and 65K . If not it make sense today to reduce the exposure on BTC and wait for a dip or to reallocate the BTC exposure on ETH (See ETH/BTC chart analysis : triangle pattern ) at 49800 - Key support ( zigzag pattern) at 39000/43000
Intraday to 3 days trading
Following the Tactical Horizon - there is an opportunity to sell BTC vs USD on current level in order to play 49 800 freelunch and 43000 in extansion (by tightening the stop loss if we go there).
Stop 61200 - Sell now/58k - target 1 : 49800 - Target 2: 43 000
Have a lovely week end !
Context : BTC /USD reached the 65K target area before starting to pause within the long-term bullish trend .
We will see that there is no sign for now to anticipate a dislocation of the bullish trend on Strategic horizon as long as 28200 remains support.
However the current Tactical horizon is showing a classic consolidation dynamic in progress and we will see how to profit of this configuration
Strategic Horizon (1 to 6 Month Basis)
The Weekly technical elements are positive and mixed respectively.
Watching at the Weekly key elements the Moving averages are support with momemtum accumulation while RSI is still keeping upside potential above 50% without Divergence.
The Elliot wave analysis show a nice impulsive move in progress with a massive momentum print within the wave (III) - The followers - and we can now be confident to see a last impulsive move in wave (V) in the coming weeks in order to print new highs at 77000 (max 100K but less probable).
Key support at 28200 => Target at 77 000
Tactical Horizon (1 to 3 weeks)
The Daily technical elements are mixed due to the lateral configuration in progress - Moving averages 21 & 55 are flattening and the RSI is a bit lost around 50% with now clear directional but with a potential to print lower to test the lower band of the indicator.
Analysing the Elliot wave dynamic, there is no surprise to see this kind of element on the daily chart , the wave (IV) is most of the time providing a ZIGZAG down pattern or a Triangle Pattern = Range.
Wave 4 are offering swing trading opportunity but a bit more tricky to catch as the Wave 2, in case of triangle you must be fast and precise to make money by selling the market however buying the dips with fresh cash make totally sense - if you already take some profit between 61 and 65K . If not it make sense today to reduce the exposure on BTC and wait for a dip or to reallocate the BTC exposure on ETH (See ETH/BTC chart analysis : triangle pattern ) at 49800 - Key support ( zigzag pattern) at 39000/43000
Intraday to 3 days trading
Following the Tactical Horizon - there is an opportunity to sell BTC vs USD on current level in order to play 49 800 freelunch and 43000 in extansion (by tightening the stop loss if we go there).
Stop 61200 - Sell now/58k - target 1 : 49800 - Target 2: 43 000
Have a lovely week end !
CIO & Head of market research (Automata - Akt.io)
Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>
www.akt.io/app-referral/?referral=3e2e485b164fe488ed7761ca1c2374db6f41b691cbe03c728b108489f13a46fa
Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>
www.akt.io/app-referral/?referral=3e2e485b164fe488ed7761ca1c2374db6f41b691cbe03c728b108489f13a46fa