BTC/USDT : Massive bull run ongoing above 28800
BTC/USDT : Massive bull run ongoing above 28800 towards 77000 and 111K in extension
Context
In the previous analysis by the end of the 2021 - i was highlighting the configuration in trading range between 28800 and 69000 where Bitcoin was progressing since the beginning of the last year.
The trading range pattern is really clear to define as the 3 wave composing the Flatening Range patter respect all the criterias from an Elliot and Harmonic pattern - Wave A in 3 underwaves (corrective) followed by the Wave B in 3 underwaves (corrective) before ending by the Wave C in 5 underwaves. So we have here the range in A-B-C / 3-3-5 with A wave = C wave composing a Wave IV/ (corrective wave) on upper degree.
So now the IV/ wave is complete and we have to draw a last up leg at least on BTC to compose the V/ wave and finish a first long bullish cycle with at least 77K to test but the most probable scenario is to print 111K
To built coherent portfolio regarding this context and lower the risk, it make sens to anticipate the take off since we saw the entry by level at 34800 (A=C target) in order to built a global bullish position close to the long-term invalidation level set at 28800 (as explained in the previous analysis of the 28/12/2021 :
Conclusion
The BTC is showing now pre-signal (bullish) by progressing above EMA 21/55 daily with a RSI coming back in positive area just after having print the perfect buying level from the fractal and chaotic approche (determinism in the Elliot + harmonic pattern) - It is clearly a bullish set up now in front of us.
Also keep in mind that BTC stand for now a global UNDERPERFORMER as a oldest and most mature crypto asset it will not offer anymore a potential of return as it did in the past, better to use ETH, AVAX,FTM,ATOM,GXS,SOL,MATIC,HBAR etc.... for that or to focus on Bridge coin like BICO,CELR and all the METAVERSE/WEB3/GAMING industry SAND,MANA,ENJ,ATRI,AXS.... (Yield Farming... MIMO,ANGLE,AAVE,CURVE....) - On those previous token we can probably speak about the MOST SIGNICANT RAISE SINCE THE LAST PAST 120 YEARS if we compare with the DOW JONES for exemple....
Key level to watch for BTC
Tactical Horizon
- (Timing 3 weeks to 3 months)
Bullish as long as Pivot level at 35600 stay support (daily close) towards 51400 before challenging 77000 in extension
Alternative case : Penetrating 35600 , Last drop will occur to test the Strategic Pivot level at 28800 before engaging the long term Bull Run
Strategic Horizon
- (Timing 3 to 12 months)
Bullish as long as Pivot level at 28800 stay support (weekly close) towards 77000 minimum and 111 000 in extension (End of the bullish cycle)
Alternative case : Penetrating 28800 a significant pause will occur with 22 000 and 14 000 as downside target before any new bullish tentative.
Context
In the previous analysis by the end of the 2021 - i was highlighting the configuration in trading range between 28800 and 69000 where Bitcoin was progressing since the beginning of the last year.
The trading range pattern is really clear to define as the 3 wave composing the Flatening Range patter respect all the criterias from an Elliot and Harmonic pattern - Wave A in 3 underwaves (corrective) followed by the Wave B in 3 underwaves (corrective) before ending by the Wave C in 5 underwaves. So we have here the range in A-B-C / 3-3-5 with A wave = C wave composing a Wave IV/ (corrective wave) on upper degree.
So now the IV/ wave is complete and we have to draw a last up leg at least on BTC to compose the V/ wave and finish a first long bullish cycle with at least 77K to test but the most probable scenario is to print 111K
To built coherent portfolio regarding this context and lower the risk, it make sens to anticipate the take off since we saw the entry by level at 34800 (A=C target) in order to built a global bullish position close to the long-term invalidation level set at 28800 (as explained in the previous analysis of the 28/12/2021 :
Conclusion
The BTC is showing now pre-signal (bullish) by progressing above EMA 21/55 daily with a RSI coming back in positive area just after having print the perfect buying level from the fractal and chaotic approche (determinism in the Elliot + harmonic pattern) - It is clearly a bullish set up now in front of us.
Also keep in mind that BTC stand for now a global UNDERPERFORMER as a oldest and most mature crypto asset it will not offer anymore a potential of return as it did in the past, better to use ETH, AVAX,FTM,ATOM,GXS,SOL,MATIC,HBAR etc.... for that or to focus on Bridge coin like BICO,CELR and all the METAVERSE/WEB3/GAMING industry SAND,MANA,ENJ,ATRI,AXS.... (Yield Farming... MIMO,ANGLE,AAVE,CURVE....) - On those previous token we can probably speak about the MOST SIGNICANT RAISE SINCE THE LAST PAST 120 YEARS if we compare with the DOW JONES for exemple....
Key level to watch for BTC
Tactical Horizon
- (Timing 3 weeks to 3 months)
Bullish as long as Pivot level at 35600 stay support (daily close) towards 51400 before challenging 77000 in extension
Alternative case : Penetrating 35600 , Last drop will occur to test the Strategic Pivot level at 28800 before engaging the long term Bull Run
Strategic Horizon
- (Timing 3 to 12 months)
Bullish as long as Pivot level at 28800 stay support (weekly close) towards 77000 minimum and 111 000 in extension (End of the bullish cycle)
Alternative case : Penetrating 28800 a significant pause will occur with 22 000 and 14 000 as downside target before any new bullish tentative.
CIO & Head of market research (Automata - Akt.io)
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A break below 28800 in weekly close will open a double top potential at 14K (timing 1 year of bear market before new halving in 2024) = Crypto winter scenario