Update: BTCUSD (From Labor Day):Upside Breakout Building? Part 2
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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.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.