For me, less is more.
I want to be able to see what’s actually going on. Not get bombarded with all sorts of lines and colors.
Price is the only thing that pays anyone. So let’s focus on that.
Here’s how I see it:
You can see how prices have continuously respected these levels that I highlighted.
The market has memory. My expectation is that these levels continue to act as a magnet into the future.
The resolution down here in the low 40,000s is going to set the stage for 2022.
What type of environment are we entering into this year, after a +60% gain for 2021?
Does this support hold, like it did in September? Or do we drop back to the summer lows under 30,000?
Or potentially, even down under 20,000 to retest the 2017 highs.
If the market has taught me anything is to be open to all possibilities.
But either way, whether you’re bullish or bearish, long or short, or even just an observer of these markets, I really do think these are Bitcoin’s most important levels.
How do you think it will play out?
*Also, you’ll notice the 14-day RSI there below price. I explain those divergences in this post.