Just came back from holiday, booked some profits, read some Mark Douglas and feel recharged. So crypto break is cancelled, the show goes on!
BTC is "over-charted" by nutters on Crypto Twitter if you ask me, in the same way Gold is obsessed over by crusty boomers. I like to keep it simple.
This is my standard BTC chart since early August, what I tend to do is draw the macro levels and leave the chart to play out.
This approach has worked well for me as charts I drew as far back as 2018 still give me decent data. I don't care about the small moves, it's all about the pattern on the 1D.
Honestly I don't see what the fuss is about here, it's creaking back up towards the 12k mark but could easily dip back down to the range below. Based purely on the chart.
I would want to see one of 2 things. 1) a convincing break of 12k, including a successful test of that level as support. Or 2) the high 11k's established as a new range.
Stepping back from the chart a bit, it's good that BTC barely flinched at the recent FUD (Bitmex, DeFi and regulatory dramas). That's surely a sign we are entering a bull market in 2021.
BTC is "over-charted" by nutters on Crypto Twitter if you ask me, in the same way Gold is obsessed over by crusty boomers. I like to keep it simple.
This is my standard BTC chart since early August, what I tend to do is draw the macro levels and leave the chart to play out.
This approach has worked well for me as charts I drew as far back as 2018 still give me decent data. I don't care about the small moves, it's all about the pattern on the 1D.
Honestly I don't see what the fuss is about here, it's creaking back up towards the 12k mark but could easily dip back down to the range below. Based purely on the chart.
I would want to see one of 2 things. 1) a convincing break of 12k, including a successful test of that level as support. Or 2) the high 11k's established as a new range.
Stepping back from the chart a bit, it's good that BTC barely flinched at the recent FUD (Bitmex, DeFi and regulatory dramas). That's surely a sign we are entering a bull market in 2021.