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.
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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.