BTC/USDT: Bullish set up above 18800/19800 (update)

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

BTC/USDT: Bullish set up above 18800/19800 (update)

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

previous analysis 29/06/2022 :

Market configuration

- Graphical Elements :
Graphical Resistance = 24400 & 22500
Graphical Support = 18800 & 19800

- Mathematical Indicators:
EMA ( Exp Moving averages) are mixed = Neutral
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 = 19500
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 fermée: cible de profit atteinte:

Target reached at 24400 = Upside confirmation level on mid-term basis

new update coming soon