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 must be taken from 8am London time to 5pm Tokyo time, during the next 24-hour period only.
Long Trades
Short Trades
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 I was unsure as to likely short-term direction here, as although we had some bullish momentum, this entire area between $6,500 and $6,805 looks likely to be difficult to break. This was a good call, as the price has spent more time rising than falling but was held by $6,600.
The long-term picture shows a bearish trend which is slowly weakening away to almost nothing. Over the medium-term, we see fluctuating bullishness with bearishness. These developments are making Bitcoin increasingly hard to trade profitably. I have no directional bias today, although it can be said that right now the bulls look like they have a slight edge over the bears.
