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

Swing point low
Swing point high
Possible bounce zone
Bearish breakout

The BTC/USD is still in a retracement mode. As long as it is kept above 40000, bulls have the chance to bounce. There are multiple swing points which 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.