BTC / USD: Supported from the $ 9,000 / $ 9,500 range
Yesterday’s signals was not triggered as none of the key levels have been reached yet.
Today’s BTC / USD signals
Risk 0.50% per Trade.
Trades may only be completed before 1 p.m. 5 pm Tokyo time Friday.
Long trade ideas
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Long entry after a bullish price action reversal on the H1 timeframe after the next touch of $ 9,431, $ 9,316 or $ 9,063.
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Place stop loss $ 50 below the local turn low.
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Move the stop loss to break when the deal is $ 50 in profit by price.
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Remove 50% of the position as profit when the deal is $ 50 in profit by price and allow the rest of the position to run.
Short trade idea
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Short entry after a bearish price shift on the H1 timeframe after the next $ 10,696 touch.
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Place the $ 50 stop loss over the local swing high.
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Move the stop loss to break when the deal is $ 50 in profit by price.
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Remove 50% of the position as profit when the deal is $ 50 in profit by price and allow the rest of the position to run.
The best way to identify a classic “price change” is to close an hour’s candle, e.g. A pin, a doji, an exterior or even just a glowing light with a higher closure. You can take advantage of these levels or zones by looking at price action that occur at the given levels.
BTC / USD analysis
I wrote yesterday that I saw the best practice as putting faith in this supportive area below $ 9,000 which would probably be crucial. So I didn’t want to take a bearish bias until we got two consecutive hourly quarters under $ 9,000.
This was a good call as this cluster of support levels has continued to hold and even push the price up a bit, yet the price eventually drops again.
It looks like bulls and bears will be fighting a big fight over this $ 9,000 area. It should be pretty easy to see when the bears win, which will be when the price is established below $ 9,000. However, it will be much more difficult to see if the bulls are winning, although the price may establish itself above the lower trend line in the price channel shown in the chart below, it would be a kind of bullish sign.
I see the best practice as looking for a long trade from a return view to either $ 9,316 or $ 9,063.There is nothing of great importance today due to the USD.