Yesterday’s signals were not triggered, as none of the key levels were ever reached.
Today’s BTC/USD Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm Tokyo time, during the next 24-hour period only.
Long Trades
Short Trade
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-term action at $7,100 suggests that the price may be making a minor top and getting ready for a deeper retracement. I would, therefore, want to see the price break the high before being bullish today, or alternatively a pull back and strong bullish bounce at the support level of $6,867. This was a good call as after initially rising, the price failed at $7,100 before falling back, but has still not quite reached the support level at $6,867. Therefore, my call yesterday remains identical today. The picture remains generally bullish.
There is nothing important due today concerning the USD.