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.
Long Trade
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 it looked as if we were seeing a short-term topping out at $7,300 which looked likely to push the price down to the support level at $7,128. This looked likely to be good support, so a long trade entry there following a bullish bounce was the potential trade to watch for today. I would have a bullish bias above $7,300 or at a bounce at $7,128.
This was a reasonably good call although the price did not do much, although it did keep failing to get significantly higher than $7,300. As there is no meaningful change to the technical picture, my approach today is exactly the same as I outlined yesterday.
