BTC/USDT : Bearish move towards 22900 confirmed

BTC/USDT : Bearish move towards 22900 confirmed


Context

After having penetrated 32400/28800 area the BTC confirmed that the previous wave structure for a direct recovery was not the correct one. The Symetrie now in term of fractal auto-similar move is showing 22900 / 18800 area as a key zone for a major buy back.

All the technical elements such as EMA (moving average) , RSI indicators, graphical breakout and Elliot wave account are accumulating bearish validation in parallel of one hand strong macro economic fondamental (inflation, supply crisis from Ukraine war and China lock down) and in a second hand a defiance towards stable coin and DEFI protocal.

TActical View 3 to 12 weeks:

In this configuration the Tactical picture is now bearish (bullish scenario above 36700 invalidated: Below 33800 firther downside move towards 22900 (26000 is acting as intermediate support)

Strategic View :


Once the panic mode will be eraze from the market and the tactical bearish move has been triggered a new recovery above 18800 is expected to start the wave V and rechallenge the previous tops.

Enjoy my friend

Trade closed: target reached:

TArget reached

Waiting for a bullish reversal above 18800 if Central bank deliver a soft landing plan in parallel of rate hike