BTC/USDT reached alternative support area @ 39700 (Buy)
BTC/USDT reached alternative support area at 39700
Context :
After having bounded off key strategic buy level at 34800 the BTC shaped a bullish acceleration tentative reaching 45K area. To keep a direct bullish dynamic the market had to accumulate above 40800 and then 42500 however the recent setback penetrated those levels opening alternative support at 39700.
Now we are back to the second daily buying area at 39700 and Key tactical level at 35700. This support area must hold to develop a bullish move to 43500. This level must be surpassed then to totally eraze a potential new bearish attack and reach 51K
Tactical to daily view (1 to 3 days - before next 3 weeks)
As long as 35800 remains support and 39700 is acting as entry level (buy) the market is expected to bouncing off towards 43500 (1 to 3 days) - only a clear break above 43500 in daily close will open 51K
Else Breaking below 35800 key support a last downside leg towards the strategic key support at 28800 will occur before starting the multi- weeks significant bullish run expected
Enjoy
Context :
After having bounded off key strategic buy level at 34800 the BTC shaped a bullish acceleration tentative reaching 45K area. To keep a direct bullish dynamic the market had to accumulate above 40800 and then 42500 however the recent setback penetrated those levels opening alternative support at 39700.
Now we are back to the second daily buying area at 39700 and Key tactical level at 35700. This support area must hold to develop a bullish move to 43500. This level must be surpassed then to totally eraze a potential new bearish attack and reach 51K
Tactical to daily view (1 to 3 days - before next 3 weeks)
As long as 35800 remains support and 39700 is acting as entry level (buy) the market is expected to bouncing off towards 43500 (1 to 3 days) - only a clear break above 43500 in daily close will open 51K
Else Breaking below 35800 key support a last downside leg towards the strategic key support at 28800 will occur before starting the multi- weeks significant bullish run expected
Enjoy
Trade closed: stop reached:
35800 penetrated - View invalidated - alternative is in progress
CIO & Head of market research (Automata - Akt.io)
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