649bruno
Long

Want To Watch Paint Dry? Speed Of BTCUSD Uptrend Is The Same!

BITSTAMP:BTCUSD   Bitcoin / Dollar
137 0 5
Update From Labor Day (Is the paint dry yet?):
BTCUSD-is slowly rising. You might describe the action as "crawling upwards". Watching grass grow or paint drying.
In fact-you might say-BTCUSD is advancing at turtle speed.
If you are long, here are the positives:

1. Currently multiple buy Fractals (highlighted in green box).
2. The lower indicators under the chart are CHOP/ Chop Zone; readings below the shaded area (38.2) indicate a strong trend. The solid green indicates up.
Please note that the CHOP line is near the top of the shaded area. This indicates no trend and choppy action.
3. The top lower indicator is phase energy, and this is positive, above zero.
4. The alligator is feeding in the uptrend.
5. RSI / Stochastic (top indicator) is strong, and has corrected the over-bought condition.
6. Prices are trading above the Ichimoku Cloud .
7. Prices are trading above the thick red Ichimoku Cloud conversion line. This is a support level .
8. Prices are trading above the Ki jun-Sen baseline of the Ichimoku Cloud and this has been HEADING HIGHER.
9. The 5/34 Momentum indicator (top middle) is strong.
10. The moving average trend line is rising.
If you wish to exit or go short here is what to look for:
1. Sell Fractal;
2. Sinking (red in color) phase energy bars that approach the zero line;
3. The CHOP line (under chart) begins to rise away from the dotted line into the shaded area (this would suggest the end of the up-trend); or
4. The CHOP line heads lower out of the shaded area while the CHOP ZONE turns red. This would suggest a change in trend (down) that is strengthening.
5. The RSI/ Stochastic (top indicator) gets to 80, rolls over, and heads lower.
6. The 5/34 indicator (top middle) gets to near its top, rolls over, and heads lower.
Remember these five words: "Move when the market moves".
Good luck to you. Don.
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