We can see a formation here. The price is following the blue and looks like we have just bounced off the bottom of the handle. The also confirms that this is a good entry point as the faster moving average crosses above the slower one.
Our initial target is the top of the cup and if it can break above there then we will target the 1.618 Fib line. If Bitcoin breaks $20K then the 1.618 target will be a lot more likely.