ChartArt

Bitcoin Breakout Trading With The Most Popular Indicators

BITSTAMP:BTCUSD   Bitcoin / Dollar
As explained on the chart the goal of this breakout strategy is to avoid risk and therefore the trade should only be entered if the price breaks above the last high of $386.60 on Bitstamp , because this is the last and most important signal to confirm a new uptrend. (Please zoom in to better see the candlesticks ).

Maybe this chart helps new people who are starting with trading to see the overall Bitcoin price trend. I researched what the most common day-trading indicators are and wanted to share with you what these show with default settings. The most popular indicators are the MACD , Stochastic and RSI ( Relative Strength Index ). The Moving Average wasn't mentioned as being the most popular, but I know it's a popular indicator, especially with the classic 50 day period.
johnrfraser
2 years ago
Hi ChartArt, I just made a really embarrassing post on David’s thread.
I just realized I misread it and I’d thought ‘Chartartist’ was you :-/
Glad to see your post…I’m reading bullish signs too.
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FluidicFX PRO
2 years ago
Nice work collecting the bits and pieces.
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ChartArt
2 years ago
03:20 UTC
Monday, December 1, 2014, week 49
Current price: $376

So far no breakout above $386.60 to enter the trade. All indicators still show the same signals a day later after publishing.

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sammantic ChartArt
2 years ago
Yep a bullish setup..but price is refusing to confirm...frustrating
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ChartArt
2 years ago
01:26 UTC
Tuesday, December 2, 2014, week 49

So far no breakout above $386.60 to enter the trade. All indicators still show the same signals two days later after publishing.

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ChartArt
2 years ago
02:15 UTC
Wednesday, December 3, 2014, week 49
Current price: $379

So far no breakout above $386.60 to enter the trade. Three days later after publishing the Bollinger Bands has turned bullish, too. But the volume is extremely low now. Last peak was $382.86

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ChartArt
2 years ago
23:40 UTC
Wednesday, December 3, 2014
Current price: $376

Four days later on Wednesday after publishing the volume shows more sellers. And the Stochastic has a bearish crossover. Last peak was $383. If you are trading Bitcoin these are early warning signals to consider selling. Still no breakout above $386.60 to enter the trade.

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ChartArt ChartArt
2 years ago
There is an error in my chart in the text bubbles. Let's see who finds it :)
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FluidicFX PRO ChartArt
2 years ago
"The price is *above* the Bollinger Bands median = bullish"
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ChartArt FluidicFX
2 years ago
You are a winner! :)
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ChartArt
2 years ago
00:32 UTC
Friday, December 5, 2014, week 49
Current price: $372

Possible start of a downtrend = Sell! Almost all signals have become bearish except for the moving average which is always lagging and slow.

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ChartArt
2 years ago
05:03 UTC
Saturday, December 6, 2014
Current price: $372

The Bitcoin auction hasn't moved the market so far. No clear direction emerged.

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