BTCUSD - still a contender like Rocky in round 14

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.