Yesterday’s signals were not triggered as none of the key levels were reached.
Today’s BTC/USD Signals
Risk 0.75% per trade.
Trades must be entered before 5pm Tokyo time, over the next 24-hour period only.
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.
The price has remained between support and resistance over the past 24 hours. I still had a slight bullish bias yesterday and there is some buying going on. The technical picture is perhaps changing slightly, as the price does not seem to be able to rise, and we might be seeing a topping-out now with lower swing highs, which are starting to hint at a bearish head and shoulders pattern. It is hard to say what is most likely to happen next. I still have a slightly bullish bias as long as the support at $7,758 continues to hold.
Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.