BTCUSD 43K target reached, up swing move expected
BTCUSD (Bitcoin) - Technical analysis
Context : Following previous analysis
the BTCUSD reached the downside target (consolidation) at 43000. Now a new upside move is expected after having shaped the Wave IV consolidation pattern.
Key element:
- RSI shows divergance
- 39/43K key elliot wave target + fibo support
- 54375 key resistance (confirmation level) = target 1 to 3 days
Conclusion
Turn Bullish above 39K/43K to play new test of previous highs by surpassing 54375 short-term target. Only a clear break above 54375 would lower the downside risk
Context : Following previous analysis
Key element:
- RSI shows divergance
- 39/43K key elliot wave target + fibo support
- 54375 key resistance (confirmation level) = target 1 to 3 days
Conclusion
Turn Bullish above 39K/43K to play new test of previous highs by surpassing 54375 short-term target. Only a clear break above 54375 would lower the downside risk
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The is a global risk off mode on going on crypto with ETH to 2300 and some shitcoin in struggle.
Only 46000 reintegrated fast would lower a direct downisde risk.
Conviction to see a strat of strong upside move from here is low, below 39K in case of clear break we go to 28200...
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