Chartist: Kyle

(For the chart screenshot, click here.)

Price is currently breaking out from its inverse head and shoulders pattern, holding the 200 EMA on the daily as support while flipping previous resistance. We are also seeing the 21 EMA on the weekly chart approaching the golden zone, marked between $6.9 and $7.2. Any pullback into this zone could present an ideal entry opportunity. The primary resistance to clear from here is $9.8, and a break above this level could lead to rapid expansion.

• Entry: DCA between $8 and $6.8

• Take Profit Targets:

  • TP1: $12

  • TP2: $13.8

  • TP3: $17

• Stop Loss: Daily close under $6

This setup shows strong potential, especially if BTC and the broader market remain bullish.

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Disclaimer: All opinions expressed by the publisher, writers, and chartists should not be construed as financial advice and do not necessarily reflect the views of Crypto Banter or The Whale Room. The publisher, writers, and chartists may hold positions in the tokens and assets discussed. Readers are encouraged to do their own research.