New to Publishing not Charting, but didn't know you could not change the time frame when viewing as a "Viewer" so.. Here's the same chart using the 1 Day time frame
Copy of the 4HR notes below:
This chart contains many variables, uploaded on the 4hr time frame. In an UPWARD TREND (Bull Market) ...Once the Golden Cross is confirmed, on the 4hr chart, Price Action will come back and test the 200 EMA or the 200 SMA, (within +/- 1.5% of the average) You can back test it...Shout Out to Krown's Crypto for that knowledge!! Once the Price tests the 200EMA/SMA, then history show a 50%-400% gain over the next few months...(I personally don't think it would be 400% this t.ime), but 100% would be 20K+! This is on the 4hr chart marked with notations and grid lines. Right now the Fib is holding down price at the 38% re-tracement level on the 4hr, touched the 50EMA but hasn't hit the 200 EMA or SMA.
Another interesting thing to look at is on the DAILY CHART... Lower Highs, Lower Lows, Forming a Huge Symmetrical Triangle. They usually break-out when about 69% Full...indicated by the measurement on the left, the Black Arrows and the Red-Dashed vertical line...along with Upper and Lower Targets(Blue Lines) of approx 16K and 6K respectively. At 69% the daily Triangle, using Candle Bodies, not wicks should break-out close to Aug 19th.
Don't forget on the Weekly, Price action in a Bull Run always comes back and tests the Weekly 21 EMA and that hasn't been done yet! Marked on Chart in Yellow Line
And...That retest of the Weekly 21 EMA could Over-Shoot a bit and Cover the OLD GAP Formed on CME's from 8515-9990!...another area labeled on chart.
Summary: 1) BTC could pop down to the 200 EMA/SMA ... & then Break-out North of Lrg Triangle & shoot up 50%-150% over the next couple months to New All-Time Highs... 2) BTC Break Down Past the 200EMA/SMA and Break-out South of the Lgr Triangle and test the Weekly 21 and Cover the CME GAP @ 8515...then Shoot North... 3) BTC Break South from Lrg Triangle and hit measured move to bounce @ 6K finding Support at the all-to-familiar 6.4K...and then start a climb to All-Time-Highs
PLAY WITH THE CHART, EXPAND IT, SHORTEN IN, CHANGE TO DAILY OR WEEKLY, BUT UPLOADED ON THE 4HR TO SHOW THE 200 MA's
"Don't forget on the Weekly, Price action in a Bull Run always comes back and tests the Weekly 21 EMA and that hasn't been done yet! Marked on Chart in Yellow Line ".
This did not occur on the Nov 6 red weekly candle but did on the previous red candles in the run. Also, this did not occur in either of the bull runs in 2013 (Some blame the Markus and Willy Mt Got bots for this - we have bots now that make Markus and Willy look primitive). Just remember, we do not need to test the weekly 21 EMA to move higher. Bitcoin has limited supply - it is all about distribution. Those that don't have will have to pay higher to have. If the whales think they can increase their levels by forcing a 21 EMA kiss then they will. This force can always blow up on them and they can risk distrbuting coin to no advantage.
CME gaps have no play in this game. It is a cash settled side show at this point. This may change but not on a cash settled futures contract. They rushed their contract design. I say this with love not hate.
The 4h golden cross has been confirmed. Once again, in the bull run of 2017 3 out of the 22 4H sell downdrafts touched the 200SMA.
Kudos for getting through a Krown video. He is a good technician and probably a decent trader. I can't bring myself to wade through the F*cks and dildos. I prefer candles. Thank you. He is good. I wish he was not such a grind. I tend to turn down the sound and blow vape at the screen. Then again, I am twice his age so I am an old fuddy dud.
oaksacorn
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@oaksacorn, Clarification. "Once again, in the bull run of 2017 3 out of the 22 4H sell downdrafts touched the 200SMA." This is a Daily statistic not 4H . My apologies.
Chefrusty
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@oaksacorn, I appreciate your input, really do, good points to ponder, Krown can be vulgar, but he know the T/A. Thanks again..Definately long term bullish, where do you think we will head next? Always value an opinion...
oaksacorn
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@Chefrusty, I am struggling here. I am in a struggle with the 21 weekly EMA touch. The market vibe does not currently speak to it. Almost like a hybrid of 2013 and 2017. Stoch wise...the 3D is very constructive. The weekly seems to want to turn up. The daily seems to want to go horizontal and turn back up. This is a difficult spot. The whales are now clear on the fact that institutional $ are waiting in the weeds. Note the spike down on May 17. Buyers came in fast. Buyers came in on the downdraft to 9000 and just recently at 9100. So the whales are now reluctant to distribute and get burned getting it back. Everyone thinks we need to setback a certain amount for a solid move up. We don't. People underestimate the supply issue. BTC is still king and it can use Ripple as a Layer 2 regardless of Lightning progress. XRP is poised to move much higher. Check XRPBTC with monthly stoch at 0.00. XRP is going to lead the way. XRP is a force to be reckoned with. I am edgy here. Everyone knows 8600 is possible and they are ready to buy. The whales know this. The biggest risk for the majority is going higher. There are more buyers than sellers. More and more people are understanding the math. The Libra talk was actually very bullish. It pointed to how only Ripple has done the due diligence with the powers that be and has cemented the store of value aspect of BTC. Things are too quiet under the top of this bull flag. It seems to want to pop.
"Don't forget on the Weekly, Price action in a Bull Run always comes back and tests the Weekly 21 EMA and that hasn't been done yet! Marked on Chart in Yellow Line ".
This did not occur on the Nov 6 red weekly candle but did on the previous red candles in the run. Also, this did not occur in either of the bull runs in 2013 (Some blame the Markus and Willy Mt Got bots for this - we have bots now that make Markus and Willy look primitive). Just remember, we do not need to test the weekly 21 EMA to move higher. Bitcoin has limited supply - it is all about distribution. Those that don't have will have to pay higher to have. If the whales think they can increase their levels by forcing a 21 EMA kiss then they will. This force can always blow up on them and they can risk distrbuting coin to no advantage.
CME gaps have no play in this game. It is a cash settled side show at this point. This may change but not on a cash settled futures contract. They rushed their contract design. I say this with love not hate.
The 4h golden cross has been confirmed. Once again, in the bull run of 2017 3 out of the 22 4H sell downdrafts touched the 200SMA.
Kudos for getting through a Krown video. He is a good technician and probably a decent trader. I can't bring myself to wade through the F*cks and dildos. I prefer candles. Thank you. He is good. I wish he was not such a grind. I tend to turn down the sound and blow vape at the screen. Then again, I am twice his age so I am an old fuddy dud.