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 and 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. It is losing its over-bought condition.
4. The alligator is feeding in the uptrend.
5. RSI / Stochastic (top indicator) is strong, but correcting. 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.
In my opinion, BTCUSD-is still in an uptrend.
What would change my mind? A sell Fractal and a change in the alligators feeding.
Good luck to you. Don.
Here are the positives:
1. Currently multiple buy Fractals (highlighted in green box).
2. The lower indicators under the chart are CHOP and 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. It is losing its over-bought condition.
4. The alligator is feeding in the uptrend.
5. RSI / Stochastic (top indicator) is strong, but correcting. 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.
In my opinion, BTCUSD-is still in an uptrend.
What would change my mind? A sell Fractal and a change in the alligators feeding.
Good luck to you. Don.