649bruno
Long

BTCUSD Update: Trend Still Rising, No Sell Fractal Issued

BITSTAMP:BTCUSD   Bitcoin / Dollar
122 2 5
BTCUSD-is slowly rising. You might describe the action as "crawling upwards".
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.
3. The top lower indicator is phase energy, and this is positive.
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;
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
.

Vaggitarian
2 months ago
Good to see you do crypto analysis as well! Good to see a strong expert opinion. My own limited analysis says positive as well. Thanks a bunch Don!
Reply
649bruno Vaggitarian
2 months ago
Thank you for your kind words. I am far from an expert. Just trying to read what the chart is telling me without bias.

One final comment. I thought of your logo today at work (I run a small manufacturing company with 58 people). What prompted me to think of your logo?
For my birthday (Labor Day) I got a "Ghostbusters" (Milwaukee Brewers) bobble head (with four relief pitchers) and the phrase "who ya gonna call?".
One of my favorite Bill Murray movies is "Caddyshack", and your great logo reminds me of the gopher from that movie. Makes me laugh every time I see it.
The best of luck to you. Don.
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