BTC/USDT: Selling area reached - direct drop expected

---- Short-term Analysis for the next coming 1 to 3 Weeks - Based on 3h Chart -------

BTC/USDT: Selling area reached - direct drop expected

Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. the actual bounce offers a sell opportunity

Market configuration

- Graphical Elements :
Graphical Resistance = 34000
Graphical support = 26000

- Mathematical Indicators:
EMA (Exp Moving averages) are still in bearish configuration
RSI indicator (below) is close to resistance = end of bounce

- Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave 5 C (4) is missing - the market is actually finalizing the wave 4 = Selling level reached now
Fibonacci resistance of the wave 4 = 34000
Fibonacci support of the wave 5 C (4) is 22900
Fibonacci short-term wave = 27450

Conclusion

Prefered case => The BTC is expecting to be sold in the coming days as long as 34000 remains a reistance valid - the selling area has been reached and a new drop towards 27450/26000 Is expected
Alternative case => The BTC bounce above 34000. A daily close above 34000 will invalidate the last drop scenario to confirm a larger rise with a first target at 40700

Trade closed: target reached:

TArget reached