BTC Uptrend Intact

Hello Steemians! July was a decent month for crypto in general, especially BTC. As I write this post today BTC is trading at 8174. Where as, June 29 low was around 5790. That is 40% move from the lows in a month. For any other financial instruments people will be highly satisfied for a move like this, but in crypto we are never satisfied, right? Because for most people in this space, it is always going to the MOON! Let us have a look at the daily chart :)

Well, let me tell you something. Nothing goes to the moon, not even NASA, due to low budget lately :) So sooner you guys get over this "moon" concept, better it is. Also many traders, including myself, will start to take you seriously if you do not use terms like "moon", "hodl", "rekt" etc... as they are simply juvenile. Okay I am off my soapbox :)

On the daily chart above, a nice inverse head & shoulder bottom is visible. There is a clear breakout above the neckline. Also there is flag-over-flag patterns. However, It is better seen on the 4hrs chart:

The rally is strong currently with the second pennant/flag forming, and prices are holding strongly above the 4hr 50-EMA. Until this pattern fails, which is trading below 7800 or so, I say we party!

No, BTC is not going to the MOON, but it sure can go to 10K, and you know what? That's a tradable pattern.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

Charts are created in Tradingview.com, which is a free service