649bruno
Long

BTCUSD Update: Bullish Move Still In Effect

BITSTAMP:BTCUSD   Bitcoin / Dollar
129 0 9
Yesterday morning (Labor Day) I wrote the for-BTCUSD:
You would expect a pullback after a nice gain, but wait for a sell Fractal . Why?
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. (Tuesday update: Latest green bar indicates strength).
4. The alligator is feeding in the uptrend.
5. RSI / Stochastic (top indicator) is strong, but correcting. (Tuesday update: It did roll over, but so far the price remains bullish .
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. (end of re-cap).
The point I was trying to make yesterday is that RSI would roll-over and fall, but prices would not follow. Why?
I did not see a sell fractal , so, in my opinion yesterday, the trend was up.
In my opinion today (Tuesday 09-06-16), BTCUSD-is still in an uptrend. Stay long until you see a sell Fractal and change in alligator direction.
Good luck to you. Don.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out