Bitcoin is very near golden crosses of its 50/200 MA (dotted lines) and EMA (solid). It is also just below resistance.
If it is going to get a re-test near wedge top, where it broke out (green wedge), or near the 50 MA or EMA, it'll happen soon.
It could just run to ~26 and ~30k, get those golden crosses, get above resistance and head towards double-top targets, but a re=test near top of wedge could lead to an inverted head/shoulders formation that would give us higher targets above resistance, near ~33-37k and provide a new buying opportunity that takes us closer to next halving and lead to a higher high, possibly even a new ATH.
Inverted HS might look something like this:
Related chart ideas linked below.
If it is going to get a re-test near wedge top, where it broke out (green wedge), or near the 50 MA or EMA, it'll happen soon.
It could just run to ~26 and ~30k, get those golden crosses, get above resistance and head towards double-top targets, but a re=test near top of wedge could lead to an inverted head/shoulders formation that would give us higher targets above resistance, near ~33-37k and provide a new buying opportunity that takes us closer to next halving and lead to a higher high, possibly even a new ATH.
Inverted HS might look something like this:
Related chart ideas linked below.
Comment:
TP 1 on smaller green wedge reached:
Comment:
Update - consolidation around TP 1 after reaching it and closing above. Should it drop below TP 1 @ approx 26.6k, imagine it would stop somewhere between 24-25k before heading back up (the two yellow lines below TP 1, or around the 50 day MA/EMA):
Trade active:
One year later, long-term TP 1 finally reached as of yesterday.
