BTC/USD Crypto Signal

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 before 5pm Tokyo time, over the next 24-hour period only.

Short Trade

Go short after a bearish price action reversal on the H1 time frame following the next touch of $9,420.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is $200 in profit by price.
Remove 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to run.

Long Trade

Go long after a bullish price action reversal on the H1 time frame following the next touch of $9,000.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is $200 in profit by price.
Remove 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to run.

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 had a bullish bias. This has paid off well, as the price has strongly broken out above the resistance which I noted at the round number of $9,000. This level has probably flipped to become new support. The action still looks quite bullish and I maintain my bullish bias as the price goes on to make new multi-week high prices.