BTC - Possible head & shoulders to 25300 with a close above MA20
Possible head and shoulders shorterm move to 25300 .
This setup requires a Daily close above the MA20 (the green line) at 20500 to get the ball rolling .
Currently BTC sits just below the MA20 on the daily Chart
On the flip side this setup is considered a failure if instead of heading upwards BTC moves below 18500 on the Daily Chart.
Such a move will indicate a possible target in the 16k area.
This setup requires a Daily close above the MA20 (the green line) at 20500 to get the ball rolling .
Currently BTC sits just below the MA20 on the daily Chart
On the flip side this setup is considered a failure if instead of heading upwards BTC moves below 18500 on the Daily Chart.
Such a move will indicate a possible target in the 16k area.
Comment:
Either-way this is a good location to open a small long-term multi-year HODL position. No more than 20% of ones allocation.