Three tickers on Bitcoin/USD shows that the 50wSMA (which has been programmed to show on the hourly time frame) is in the control of the bears. The price action didn't even reach the 50w on two of these tickers and so it seems that if you had to have a chart that was controlling you would use the coinbase chart.
Price action might still try and mount the 50 as id did around the 23rd of December but ultimately the weekly SMAs are going to continue to act as resistance. I have been watching these EMAs and posting about bitcoin being in an Elliot wave correction for some time now. See the linked post for more details beyond this quickpost
could you share the indicators name and inputs cause I do not seem to et it right.
This_Guhy
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@drkam2, When I go into indicators I type "CM_" and the whole name comes up and it was made by ChrisMoody. Here is the script link tradingview.com/script/8KVcQiJM-CM-Ultimate-MA-MTF-V2/ There is a checkbox that allows you to use current chart resolution and you unclick that to get a different time frame moving average on the chart. Everything else is pretty straight forward.
You can add a second MA and program that however you like. One of my indicator settings is to have the CM programmed to 50 and 200 and then I have the other moving averages at common timeframes (100, 200, 500, etc). That can help you see what is happening on lower timeframes in detail, like my post shows, or show how things are working on higher timeframes. Below is the silver chart with monthly EMAS, the weekly programed on the CM. and the crosses show where the CM averages corssed on another.