dradx

dradx

More upside than downside for holding bitcoin 1-2 years

dradx

This inverse head and shoulders pattern may just be going exactly as I thought it would

dradx

The weekly trend line is broken (blue line). If we get a common retracement then I could see a potential head and shoulders forming. Too early, but it may be playing out. I'm bullish longterm (monthly), which is the timeframe I care about.

dradx

look familiar?

dradx

Higher daily close since 27 Oct 2019 and now trading at the top of the resistance box. Im bullish above this box

dradx

If we retest 200 DMA and bounce to form a cup and handle. Just in time for the 50 DMA to catchup and launch higher through a golden cross. Measured move takes us to about 12,700. Still too early, but keep an eye on iy.

dradx

I'm leaning bullish

dradx

I will remain bullish above this box on the 4 hr. below that and I will have to be open to this run reversing. Not yet

dradx

Since the $3,100 low in Dec 2018 we haven't really logged a macro higher low. One year later and we may have the chance to officially call a macro higher low on bitcoin. I've been waiting for this since the 2019 April fools $1,000 candle. We need price action to print higher than the Oct China pump somewhere above $10.3k. This has to be the "disbelief" rally....

dradx

nice run so far I can see $10.3k if we break past $9.4k. Might correct and reload before going to this next level though.

dradx

Using previous price action going into the halving. I didn't include the last bar because it was too crazy high. So come back here in Sept 2021 and see if this is correct. lol

dradx

Sometimes you just need to look at the monthly chart on a linear scale to see the big picture.

dradx

If we don't blast past the 200 MA on the daily.... Similar appearance to July 2018 when we already had the death cross, retested the 200 MA and went back down. The 21 EMA and 50 MA were curling back up and giving us hope. The down into the crypto abyss. I think the legacy trend line holds us and we go higher, but this has me nervous.

dradx

The moony in me cannot help it

dradx

It took 204 days to break out of this channel. Next stop is 200 daily MA. If we can clear that then we are blasting off much higher. We can also forget about testing the 200 weekly MA if we clear that as well.

dradx

Rejected off the top of my channel. Looks like more of the same. Rinse and Repeat

dradx

Touching the top of my channel. Bullish case building, but we've seen this story before. Can we close above the top of the channel? Can bitcoin stay above the weekly 21 EMA? I hope so.

dradx

So far the recent price action has not been that exciting in the grand scheme of things. Just got rejected at the 50 MA and currently sitting atop the 21 EMA. Death cross on the daily still in play. Zoom out and see the bigger picture.