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good morning, hello, I'm your friend, this is the 18th of January 2024, this is the coffee cookie bitcoin, let's see what's new in the world of bitcoin today, entertainment content, not investment advice, these are just our friend's morning mumblings, no substantive news or gossip, yesterday there was no interesting news in the world of bitcoin, the only interesting event was the interview given by Jimmy Diamond to CNBC, which Jamie Diamond gave with unclouded good will from the headquarters of the World Economic Forum in Davos, right?
We know that at this time of year in Davos, the self-proclaimed leaders of the world always gather to have a good party on their private jets, and in the company of serious, escorted parties, sparkling wine, and all sorts of earthly good people, they discuss their motto, which is that the world should look like you will have nothing but you will still be happy.
This was a professional World Economic Forum campaign a few years ago. You can easily look it up on the internet. You will own nothing and you will be happy. This is their slogan. they're partying, they're having a little fun, they're having fun, and in the meantime they're discussing with the stacks why the rest of the world should eat bugs to save the climate here on our beautiful blue planet called Earth.
Well, Jamie Diamond, I think he could use some entertaining company on his private jet. He arrived at the CNBC interview in a very cheerful mood. And I'll play you what he said. You heard me right. Diond thinks he does. He admits that gold is a finite asset. However, regarding Bitcoin, he made the statement that Bitcoin is not a finite asset.
Let's not think that it's a finite asset. He thinks that when Bitcoin reaches 20-21 million Bitcoins, Satoshi Nakamoto, and I'm quoting Mr. Jamie Diamond, laughing hysterically, will suddenly come out from behind the scenes and wipe out all your Bitcoins. The CEO of one of the most powerful banks in the world, JP Morgan, is one of the largest banks in the financial world.
We heard from a powerful expert at the World Economic Forum in Davos in January 2024. I wish Mr. Jamie Diamond a lot of fun from here. From the slightly rainy, slightly foggy Budapest to the beautiful Davos sunshine. Enjoy the private jets. Enjoy the champagne. Enjoy the company of the escorts. And I hope that during this few days of the conference, they will take us a little further with similarly insightful thoughts towards world peace, saving the climate, and eating bugs.
Thank you, Jamie. We are glad that we can quickly run through the bitcoin charts. There is no crazy change to be aware of. Bitcoin has been moving in such a narrow band here all week. Our weekly battle is unchanged. This is still a trend structure where Bitcoin fluctuates on the border of long 2 and long 3.
This means that on the one-week timeframe, I still have three exposures out of the three and I plan to modify this according to what happens here in the two short As you can see, they will meet our moving average this week at $42,800. If we see bitcoin trading above this in the coming weeks, then the long h trend structure can be maintained.
If we see it trading below this, then the consensus system will give a signal to return to the long two position exposure and reduce the risk. Here on the seven-day time frame, the three-day bitcoin chart closes today. This is the spot chart for Coinbase. We see that if the moving average fails to close above $43,500, the bearish crossover of the two short moving averages will be confirmed, which on this time frame means that we are moving from the current long 3 trend structure to the long kes trend structure.
This is when we have a long 2 when we have a rising high moving average and the two short moving averages are moving above it, but so that the shorter moving average is already below the medium one. I will do this at the close. I will monitor and adjust the position exposure accordingly if necessary.
This is still long 3. But it looks like if we close below $43,500, the long kes signal will be given by the Kensio trading system. One-day bitcoin chart. If I look at the coinbase spot chart, we are already in full risk reduction. The short moving average is below the long moving average. This means that the position coverage indication is zero here.
Our high moving average is currently at $437,800. This is a very important level, by the way, looking at the entire swing sideways time frame. Here is the swing zone and its traffic profile in which bitcoin has been sideways for a very, very long time now since the beginning of December. And its very strong point of control level is $43,800.
The important traffic level below it is, I will subtract the price so that you can see it better. It is here at $42,800. So practically, this 43,800 is a very important level is very important resistance then if the chart can carry this through the daily chart and bitcoin and the short moving average can pull it back above the ma30 level that would be here in the consensus system the opening signal until now here now on the daily time frame to take a position the consensus system does not give an indication I have been holding this gray box here for a long time if we get a deeper pullback then I think here below 40000 dollars this 3880039500 dollar level we left behind here traffic levels on the cml chart this is also a gap this could be an interesting level kensio currently on the coinbase sports chart it does not give us a position and if I look at the cme chart of bitcoin there we see that the closing signal has been confirmed the short moving average has arrived below the long moving average and on the cm chart too 43800 dollars is now the ma30 level so I am not holding on the daily chart now hold the position until the bitcoin movement breaks through $43,800 and possibly turns it into support.
Thank you very much for your attention this morning. That's about all I can say about the bitcoin charts. I hope you like these short morning updates. If so, like, subscribe, share, comment. This is all helpful to me. And come back tomorrow. We'll look at the charts tomorrow morning. Have a nice day and good trading to you, everyone.
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