Bitcoin (BTC) has recently touched the Weekly 20 Moving Average (MA) and is currently trading slightly above this critical level. As we move into the next trading day, the 20-week MA is expected to shift upwards. This movement will act as a catalyst, potentially leading to significant price action in either direction.
Trading Strategy:
Bullish Scenario: If...
XNO (Nano) is currently in a strong support zone. The 20-week moving average (MA) stands at $1.25 and is expected to rise to $1.27 - $1.28 by Monday. Nano is still significantly undervalued, and it has been almost exactly 3 years since the last peak. If the 20-week MA holds and Bitcoin remains relatively stable, a strong upward trend could follow shortly.
I found it amusing how well the horizontal channel can be drawn in XNO/USM2. Additionally, it seems that the long-term downtrend is finally about to break. It's a pity that such a great project still receives so little attention.
This is not trading advice.
