Yesterday’s signals were not triggered, as there was no bearish price action when the price reached $6453.29.
Today’s BTC/USD Signals
Risk 0.75% per trade.
Trades may only be entered from 8am London time to 5pm New York time today.
Long Trades
Short Trade 1
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
BTC/USD Analysis
I wrote yesterday that the short-lived panic should be ignored, and that the price would be most likely to stabilize with a slightly bullish bias. This is completely validated by the action of the past 24 hours, which has seen the erasure of a lower resistance level, and support and resistance holding at $6333.72 and $6815.36. I maintain a bullish bias in line with the long-term bullish trend, but it is very possible the price will consolidate in this zone for a while. A sustained break above $6815.36 would be a bullish sign, but in the unlikely event that the price gets below $5409.57, that would be a bearish sign.
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