Bitcoin price action (20W SMA/21W EMA support band)
I’ve been playing around with my BLX chart to see if I can get all the useful information about BTC price action on one screen. This is all on the weekly timeframe.
The green/red band you see is the 20W SMA/21W EMA support band. I know some people tend to focus on the 20W SMA exclusively however adding the 21W EMA gives a band that allows for those wicks down and it gives a little more psychological assurance (for me anyway).
The yellow line is the 200W SMA.
Notice the confluence in this last move between all three!
The blue line at the bottom is BTC.D (Bitcoin dominance) with a couple of dotted EMAS (21/100) to show whether Bitcoin is in a dominant streak or not. It is currently. This is why I’m not in alts yet.
Anyway… stand back and let it hit you. I think it’s quite useful personally!
Initial idea came from here:
The green/red band you see is the 20W SMA/21W EMA support band. I know some people tend to focus on the 20W SMA exclusively however adding the 21W EMA gives a band that allows for those wicks down and it gives a little more psychological assurance (for me anyway).
The yellow line is the 200W SMA.
Notice the confluence in this last move between all three!
The blue line at the bottom is BTC.D (Bitcoin dominance) with a couple of dotted EMAS (21/100) to show whether Bitcoin is in a dominant streak or not. It is currently. This is why I’m not in alts yet.
Anyway… stand back and let it hit you. I think it’s quite useful personally!
Initial idea came from here:
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