BITCOIN (BTCUSD) – CASH: Buying After A Pullback To Support Area
BITCOIN (BTCUSD) – CASH: Buying After A Pullback To Support Area
(NOTE: As Bitcoin doesn’t form perfectly clean signals most of the time, and as this market has random levels of liquidity and can be very volatile, we will only annotate the clearest and well-pronounced signals that form at confluent areas of the chart. TRADING BITCOIN AND CRYPTO IS HIGH RISK, USE A REDUCED POSITION SIZE UNTIL YOU ARE FAMILIAR WITH THIS MARKET).
Price Action: There is no new price action signal to note at this time.
The prior Bullish Pin Bar Signal from late last week has now failed (We did not consider trading this signal, nor did we mention it).
Potential Trade Idea: We are considering buying on a deeper retracement lower and after a price action buy signal on the daily or 4 hourly chart time frame, at or just above the 37559 short-term support level.
(NOTE: As Bitcoin doesn’t form perfectly clean signals most of the time, and as this market has random levels of liquidity and can be very volatile, we will only annotate the clearest and well-pronounced signals that form at confluent areas of the chart. TRADING BITCOIN AND CRYPTO IS HIGH RISK, USE A REDUCED POSITION SIZE UNTIL YOU ARE FAMILIAR WITH THIS MARKET).
Price Action: There is no new price action signal to note at this time.
The prior Bullish Pin Bar Signal from late last week has now failed (We did not consider trading this signal, nor did we mention it).
Potential Trade Idea: We are considering buying on a deeper retracement lower and after a price action buy signal on the daily or 4 hourly chart time frame, at or just above the 37559 short-term support level.