BTC/USD still above 40000 support at Q L3/M L4 pivot

BTC/USD technical analysis

  • BTC/USD is supported above 40000.

  • If above 88.6 that will be bullish.

  • Q H3 is the target.

  • Below Q L3/ M L4 bears will gain control.

Daily chart BTC/USD

1. Swing point low.

2. Swing point high.

3. Possible bounce zone.

4. Bearish breakout.

The BTC/USD is still in retracement mode. As long as it is kept above 40000, bulls have the chance to bounce. There are multiple swing points that indicate that the market could gain momentum to the upside. A bounce above trend line, M L3 camarilla pivot and 88.6 fib is targeting 49996 followed by 53750. If the market breaks M L4 pivot lower then 32330 is the target.

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