We'Re gon na try for next, and also some of the support areas which i think are gon na, be a little bit more important than even those overhead resistance areas. Bitcoin is made out of this symmetrical triangle over a 50 move, so truly guys we're still waiting for bitcoin to take that big, deep breath that retracement that i believe it needs to get through twenty thousand dollars. The reason i say that still even where we're at right now how overextended we are, the rsi is up around 80 and what you're also seeing is a lot of profit. Taking with this longer wick on top here, we're gon na have to wait to see where the daily candle closes, but right now it's a little bit thicker of a body, but that would be another doji candle. We always want to take caution and warnings after we've had these big pushes to the upside, so it's, more so of a warning sign just for shorter term traders. Now, if you're a longer term investor we're, still up above our 20 ema or 50 or 100 or 200 that's, where you just want to remain in your positions and let the market do its thing. But in my opinion, bitcoin still needs that big deep breath so that we can have those blue sky breakouts over top of twenty thousand dollars and really run hard. I wouldn't want to see us challenge twenty thousand dollars when the rsi is up in the nineties.
If that makes sense, because, typically guys in these markets, they always have to breathe. I know everybody wants stuff to go straight up. You know thousands of percent, but that's not going to be a healthy market and then we're going to have one of those big bursts. Like we had before to where it's going to take three mark three years, basically to shake out a bear market because we went straight up and and the price rose so fast, so quick and then we just had that massive sell off and there we went. You know in the two and a half three year, long altcoin bear market, so it's important to look at these areas and pay attention to them. The first retracement deeper retracement area i would look at – is going to be that 20 ema and that's going to be at 15, 543 and that's going to be in purple down here. The next spot would be that 50.. So if we really pull back deep, take a real big, deep breath and then try to explode back up through and go up and set some higher highs, i look also to that 50 moving average. You can see all those are pointing up, we're, actually fanning out right now, which is also a good thing, it's a sign of strength, but we want to be aware up here. As you can see, price was rising, but the rsi was not making higher highs.
So we always want to pay attention to that type of stuff. If we get into a few more indicators, i want to take a look at the macd macd, still looking good histogram to the upside everything. Looking all right, there we're just going to work our way through these the bollinger bands. We are out of the top of the bollinger bands, so that's another sign as well. We want to be cautious of that whenever you get to to the top of these or outside of these a lot of times, you can get that 10 dump back to the downside and a lot of times they'll only happen in a day or two and then We'Ll be back to the races. Again, it can be those big, quick, deep breaths, the middle band. There is going to be around 15 385 dollars next. One i want to take a look at is going to be our momentum. Momentum, we're actually losing a little bit of steam right here, but we still are at 2316 we're, just losing a little bit right in that area. There that's what i'm saying it's just getting that point where we do need some type of retracement or some type of cooling down, and maybe from that point then guys people can take their profits and start putting them into the alt coins and we can start seeing Some altcoin movement as well some bigger swells of volume, because when volume comes into the alt coins, they really move up fast in terms of percentage gains and that's.
What we're looking at is the percentage gains so as we're looking through this now from the one day, we're going to go into the 12 hour and we're just going to work down through the time frames, and also guys, if you get something from this video don't. Forget to like subscribe hit that notification bell share with your friends so still up above this was. We did many videos about this on the 12 hour time frame still up above this 20 ema, so looking decent there up above the 20, the 50, the 100, the 200. If we go out to the eight hour, still up above the 20 we're just going to see when we start breaking down through that, so we'll go to the four hour time frame still up above it losing a little bit of strength. There then we'll go to the one hour, and this is how i like to do it basically guys and just work my way through you can go from the one hour back or the one day in. However, you wan na do it. I like to do both ways, but what i'm watching here on the one hour time frame, is this 200 moving average? We want to stay up above that because we've stayed up above it. Basically, this entire move, so i do believe that would be significant right now. We'Re fighting with that 20 ema, so on the one hour we could potentially lose that then we're going to look to be able to stay up above this 50 moving average just work our way down here.
So next support area is going to be at 17 1' and then overhead resistance we're going to be looking at four 18. Ninety seven dollars, if we get into the technicals for bitcoin, but this has just been such an impressive move overall, so we have a three cell, six neutral 19 by oscillators, three cell five neutral and a three by and then our moving average is still looking good, Because we're up above all of them, what you can see here is 80 on the rsi. That is a sell commodity index to sell williams percentage range to sell, and then it was showing awesome. Oscillator is a buy, macd is a buy and then because we're still up at that 2322 still have that strong momentum at a buy there. And then all the moving averages were looking decent. So this just an area we're gon na – have to pay attention to guys really watch this 200 moving average on the one hour time frame, see if we can stay up above that god bless.