Ben Hooda
Best Online Bitcoin Brokers
Dear traders,
Our analysis from lat time was quite productive. We managed to get into a long trade, but then our stop-loss was set to a small profit and it was triggered when the bitcoin flash crash happened. We still managed to get out of this unharmed.
We are currently seeing two daily long-legged dojis which are a sign of strong hesitance. As we have expected, the 10,000 level is a barrier that is harder to break than a lot of traders thought before.
We are currently looking at the 4 hour timeframe and are spotting a couple of interesting candlestick formations.
Let’s have a look at the chart above once again. Price went down to the level of 9,000 and then formed a small base.
There were an inside bar initially. It was then followed by two bullish engulfing patterns as shown on the image above.
These are all bullish signals. As long as we don’t see a second rejection of the 11,000 level, we are prone to think that price might continue the rise.
For now, we are looking for a small retracement and then a possible long trade. Our hypothetical target is the level of 11,000. Then, it depends on price action.
Happy Trading,
BBB
This material is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results.
Editors’ Picks
EUR/USD treads water above 1.1850 amid thin trading
EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.
GBP/USD flat lines as traders await key UK and US macro data
GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.
USD/JPY extends Japan's weak Q4 GDP-inspired recovery to 153.25 area
The USD/JPY pair once again shows some resilience below the 200-day Exponential Moving Average on Monday and rebounds from the vicinity of the 38.2% Fibonacci retracement level of the April 2025 to January 2026 strong move up. The disappointing release of Japan's Q4 GDP print, along with a positive risk tone, undermines the safe-haven Japanese Yen.
Editors’ Picks
EUR/USD treads water above 1.1850 amid thin trading
EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.
GBP/USD flat lines as traders await key UK and US macro data
GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.
Gold sticks to intraday losses; lacks follow-through
Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.
Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases
Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.
Global inflation watch: Signs of cooling services inflation
Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.
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