Update: BTCUSD (From Labor Day):Upside Breakout Building? Part 2

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
254 0 5
This is the second of two parts.
On the four hour chart I pointed out many positives.
On the daily chart above for-BTCUSD, here are some more positives:
1. RSI/ Stochastic (top) is strong;
2. 5/34 MACD (middle) is rising, getting stronger;
3. Phase energy (lower) has been all green bars (rising) for more than two weeks;
4. The CHOP indicator (below chart) is heading below the shaded area. This signifies a stronger TREND;
5. The CHOP ZONE (below chart) is green;
6. I have placed a down-trending channel on the chart. As the positive indicators get stronger-BTCUSD is approaching the top of the trend channel. Is a breakout likely? The conditions are certainly positive. The only thing I do not see yet (on the daily chart ) is a buy Fractal . (There are plenty of buy Fractals on the four hour chart, but not on the daily---yet).

There you have it. I make the case for a possible upside breakout.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out