Technical Analysis Free Forex Signals BTC/USD Forex Signal BTC/USD Forex Signal Tuesday, 8 January 2019 12:23 Share 0 Tweet 0 Pin it 0 +1 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 entered before 5pm Tokyo time today. Long Trades Long entry after a bullish price action reversal on the H1 time frame following the next touch of $3,914 or $3,741. Put 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 ride. Short Trades Short entry after a bearish price action reversal on the H1 time frame following the next touch of $4,100 or $4,373. Put 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 ride. 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 as the price had printed new support levels and was also well established within a bullish price channel., it looked likely that the pivotal level would be at $3,914. This was OK as the price remained within trend lines and the horizontal levels, making a relatively gentle and slow bearish retracement, so we do not have a strong reason to stop being bullish. The signs are all weakly bullish and I would take a bullish bias later if there is a bullish bounce at $3,914. A sustained break above $4,100 would be a more bullish sign yet. There is nothing of high importance due today regarding the USD. Currency Pairs BTC/USD Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.