BTC/USDT broke 40700 invalidating a direct rise dynamic

BTC/USDT broke 40700 invalidating a direct rise dynamic


Context :

The BTC is now in ''trading range'' since the 24th of January after having challenged the long-term strategic support area at 28800/34800. This support area is clearly the perfect buying area for a long-term bullish strategy.
However yesterday the BTC broke 40700 invalidating a direct bullish structure and opening the door towards the lower part of the range at 34300. A test lower close to 28800 can't be ignored before starting the significant swing up expected for 2022

The 42700 resistance (short-term) is now capping the market.

Tactical to daily view (1 to 3 days - before next 3 weeks)

For now between as long as 42700 remains resistance a further downside move is more likley.

- RSI is below 50% area and doesn't show divergence
- EMA are resistance
- the form of the wave looks like 3 up wave which is for now corrective and coherent with range (no impulsion fo now)


Only 42700 quicly reintegrated with a daily close would invalidate the last downleg scenario in progress