BTC is going to have to prduce one heck of a bullish candle to get past 22000 .
Why ?
===
Because a look at the monthly chart shows that
the 50 moving average sits at this 22000 and is going to act as resistance .
To clear this resistance BTC is going to produce a large bullish candle and move to around the 24k to 25k level .
Why ?
===
Because a look at the monthly chart shows that
the 50 moving average sits at this 22000 and is going to act as resistance .
To clear this resistance BTC is going to produce a large bullish candle and move to around the 24k to 25k level .
Note
moving to the weekly chart shows the MA200 also sits at this location at the 22500 level and will also act as resistance 
Note
moving closer to home and looking at the Daily chart shows BTC is forming a double bottom which has a target around the 25000 area . Incidentally 25000 is also where the MA50 (yellow line ) sits on the daily chart .
This leads me to believe that if BTC moves up it will move as far as 25000 and then come back down to retest the 22000 area .
Note
On the bearish side if BTC is unable to even make it as far as 22500 then id expect a move lower to the 16K areaNote
Either-way after an almost 80% drop this is a good location to open a small long-term multi-year HODL position. No more than 20% of ones HODL allocation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.