Today's recommendations for trading the Bitcoin / USD currency pair


 An idea for a buy trade, place a buy trade after the reversal of price action within the uptrend on the H1 timeframe after subsequent touch at $ 30,011. Set your stop-loss point at $ 100 below the local swing low. Move your stop loss to interrupt even once the trade makes a $ 100 profit counting on price. Take 50% of the position as profit when the trade is profitable at $ 100 with the worth and leave the rest of the position to figure. Ideas for brief trading: Trade short after the reversal of price action during a downtrend on the H1 timeframe after subsequent touch at $ 36,674 or $ 38,952. Set your stop loss of $ 100 above the local swing high. Move your stop loss to interrupt even once the trade is profitable at $ 100 counting on the worth. Take 50% of the position as profit when the trade is $ 100 in profit at the worth and leave the remainder of the position to run.


 the simplest thanks to defining a classic "price action reversal" is to shut an hourly candle, like a pin bar, a Doji candle, an outdoor candle, or maybe just a sunk candle with a better close. you'll exploit these levels or areas by observing the worth action that happens at the required levels.


 Analysis of the trading of the Bitcoin / USD currency pair


 I wrote last Monday that we may have seen a peak within the downtrend, which suggests that it's unlikely that the worth will recover strongly enough to succeed in a replacement level that's an all-time high above $ 42,000. I also saw consolidation or decline likely to a lower level if the $ 35,896 level could continue.


 This was an honest expectation because the price remained well below $ 42,000 and grouped into a broad range between $ 30,011 and $ 36,673, and therefore the resistance I saw at $ 35,896 was held and produced a profitable sell trade.


 the worth is now consolidating during a broad range between $ 30,011 and $ 36,674. The bulls are slightly on top of things of this consolidation pattern and therefore the support could also be very on the brink of the large turning number at $ 30,000 providing an honest buying opportunity within the short term.





 I'm willing to trade reversals from $ 30,011 or $ 36,674 as the price is probably going to continue consolidating within this range. However, within the long run, I see the worth as likely to travel down.

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