My amoxicillin right after this, so guys just bear with me today. Voice is a little off. Things are a little crazy right. Now but we're gon na get into all this. I appreciate you being here with me today: let's do this so, first of all, I want to start out with Bitcoin on the 1 week time frame and what I'm happy about here is the fact that we are back up above this 200 week moving average. I think that is extremely important for us to get back up above that and to hold that level, and what you can see is that the volume did step back in here and we defended it. So now. What we're going to have to do is pay attention to the actual clothes here, the more penetration this candle right here, the more penetration we have into the previous weeks, candle, the more important this reversal potentially could be so the more penetration you get up into this Previous day, candle, the stronger that buying pressure will be forced to potentially continue to make a move to the upside, but in terms of the one week, time frame that's what I'm looking at right. Now, we need to hold that as support as the next two days. Come about for us before we get this close on the weekly for a Bitcoin, that's gon na be extremely important for us overall guys. You know we have to hold that and then it's going to be coming back up here and trying to get back over top of the 50 moving average the 40, the 20.
All those important moving averages that we pay attention to on a daily basis. We need to get back up above them, especially on a weekly basis. Just like we were over here. You can see that beautiful move that we had is when we have a nice crossable, all those moving averages and we started moving to the upside we're. Nowhere near that, but it's good to see that we are finding some defense here on that 200 day 200 week. Moving average excuse me next. What I want to do was go into our one day, time frame what we're gon na do today for Bitcoin we're gon na work through all the time frames. So I can really give you a good idea of what I'm looking at here for Bitcoin. So, on the one day, time frame now, what you're starting to see is some profit taking right around this 20 day, moving average that's, a hot bed for cryptocurrency and for Bitcoin. I found that the 20 EMA is extremely effective. Of course, a lot of times it lacks is that strong resistance and a downtrend it'll act, a strong support in an uptrend, so that's, definitely something I do want to pay attention to, and what we also have to realize is that we've had four days of pretty Strong upward pressure – now you can see the volume down here, so we may have to have a little bit of a cool, offset a higher low and then potentially come back up here and try to get a candle close up above that 20 EMA.
But the tough thing is we're below all these moving averages here, and you can see that 200 day moving average that's going to be an important one for us to eventually climb back over top. But we really need to get back up above that and that's going to be at eight thousand four hundred and fifty dollars right now. Our RSI is sitting at 41, so we want to hold up above that 40 and continue to make some moves, but we're gon na have to see as the days and the weeks and and all the hours guys as just goes by, I mean that's. The main thing that I can tell you in this space is that you have to take this one day at a time and if you're trading you know on the hourly you got taken one hour at a time is trade. Another weekly you got to take one week at a time: that's, all you can do you can't force this market to do what you want it to do. You have to adapt to the market. You have to trade with the market, that's extremely important, the next. What what I wanted to look at here was our four hour time frame. What you can see is a little bit of selling off taking place. We had basically a shooting star candle up here. Then we had a bit of a hanging – man, candle and now we're, starting to get a little downside action.
What I would like to see us hold is gon na be around six thousand one hundred sixty four I'd like for us to find support off that. If we do not find support off that, I look down to this 20 ema20 want to hold that and then be back to this 50 moving average on the four hour time frame. That'S gon na be at five thousand four hundred and ninety we're. Nowhere near those levels, yet first of all, we'd really want to hold that will call it sixty one sixty two hundred dollars it's gon na, be important for us, because if we can hold up above that since at a higher low and then potentially make that next Move we had an extremely hard drop right down through here, so a lot of times you can make that up on the back side. I wouldn't be shocked. You know if we could come back up here and test this 200 moving average on the four hour time frame, mm, hmm and the days to come. Excuse me guys, but it may take. A little bit of tradesmen may take a little bit of a cooling down period, but you can see how we entered that uptrend there and remember. When you enter these trends, they can be short term intermediate term or longer term. A short term trend can peter out and just roll right over same with an intermediate term. Trends can change at any time.
You always have to be aware that, but in this uptrend you can see how the volume a company that we had big volume, that when we sold off we have lighter volume, then we had big volume. Then we sold off. Here we had lighter volume. We had big volume now we're, potentially having later volume, and maybe we will get that next move to the upside is what we're gon na be looking for. Next, okay, so those the areas we need to hold and then to the upside. We need to get over that we'll call it six thousand seven hundred twenty seven off the real body where we potentially had that shooting star candle, pretty close to a shooting star candle there and then into the one hour time frame. What I really like to trade is on the one hour in the fifteen minute and cryptocurrency. That seems the best for me, but you can see this long wick, so we had some profit taking right up in this area, but this is the area guys where we had that sharp drop really fast, where you can make it up on the back side and That'S a potential where we could maybe get back up to that. Seventy seven hundred dollar range, but you know right now: we just have to pay attention to what's taking place with that volume and what's happening with the trend here, because we don't want to start reversing back down in this trend start entering a short term downtrend.
You can see the RSI now is starting to tail down a little bit. We had a little bit more selling pressure there, so we're gon na have to see if we find support off this twenty on the one week or I'm. Sorry, on the one hour guys or this 50, those are the ones that I'm gon na be paying a lot of attention to, because we did just get that Golden Cross. We were talking about yesterday, where we had this 50 moving average on the one hour time frame cross over that 200. Then we got a nice little push out of that. So these are the things that I like to look for, but you can see how we entered that uptrend. We just need it to turn into something a little bit longer guys. We don't want it to just be a short term little uptrend here and then all of a sudden we start collapsing. What you can kind of see is that it's very sloppy, but we almost had one of these inverted Head. Amp Shoulders type deal. You can see the left shoulder a lot of volume, then here's the head right in this area. Then we had a little more volume for the right and we potentially could have broke out through that neckline there at around we'll call it guys it's a sloppy one. Here I call it around fifty eight hundred dollars. You could look and say that was the neckline.
It could go up there around even that sixty three hundred some people may put it down here around 5500 there's, just a lot of chopped back and forth in here. But these are the things that I like to look at and I like to put in my corner, I like to look at chart patterns. I like to put look at moving averages. I like to follow the trend and right now in the short term, the trend is up so that's a good thing and then we'll get into our 15 minute time frame and if you guys get some from these videos like subscribe, hit that notification belt. So what you're seeing here now is we are losing on the 15 minute time frame. We were losing that 50 moving average they're starting to drop down below it. To the next area of support, look at they're about 6300. We call it and then I would look down here around that 200 that's gon na be a 59. So if we did drop back to 59 guys 5900, I wouldn't be that shocked, it's, definitely something to help keeping my eye on right. Now we have had a beautiful move out of here, and sometimes you just need that retracement or that cooling down period so that you can make that next strong move to the upside, so that's. What I want to bring to you guys just really watch that 200 day or I'm sorry 200 week moving average and make sure that we close on the weekly time frame up above that and then on the one day.
We really want to start challenging that 20 EMA and start having candle closes up above that so guys that's, where I'm gon na get off right now, not feeling best, like, I said, a bunch of cough medicine and everything. So I apologize if my speech wasn't the best, but I want to be here with y'all best that I could and appreciate you being here with me guys like subscribe hit that notification bell.