BTC/USDT: Bullish set up above 18800

---- Short-term Analysis for the next coming days - Hourly Chart (LOG)-------

BTC/USDT: Bullish set up above 18800

Context
- The BTC reversed up above yearly key support at 18880 (excess 17900) before drawing a start of bullish reversal
- The short-term upside potential is 24400 for now (tactical upside confirmation level on the mid-term basis)


Market configuration

- Graphical Elements :
Graphical Resistance = 24400 & 21700
Graphical Support = 18800

- Mathematical Indicators:
EMA ( Exp Moving averages) are resistance at 21700 = Bearish
RSI indicator (below) is progressing within a bullish channel = bullish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (4) has been already reached = 18800
Fibonacci support of the wave in progress = 18800
Fibonacci Bullish Target = 24400
Fibonacci Bearish Target = 16600


Conclusion

Preferred case => As long as 18800 remains support, we are focus a bullish upside swing towards 21700 and 24400 the tactical upside confirmation level
Alternative case => Breaking 18800 new bearish attack towards 16600 will occur

Trade attivo:

update is coming soon

Trade chiuso: obiettivo raggiunto