was not triggered, as none of the key levels which I had identified were reached that day.
Today’s BTC/USD Signals
Long Trade Ideas
Short Trade Idea
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a , a , an outside or even just an with a higher close. You can exploit these levels or zones by watching the that occurs at the given levels.
BTC/USD AnalysisI wrote in my previous last Wednesday that anyone long of Bitcoin should hold onto it for now. This was a good call, as the price went on to make a new record high before entering a period of bullish consolidation, which is still ongoing.The price action is looking more bullish now, as can be seen in the daily chart below. It looks as if the price is going to make a new bullish breakout beyond last week’s record high and will likely target the huge round number at $100,000. If this level is reached, we will likely see a lot of profit taking, enough to maybe send the price sharply lower.Unfortunately for bulls looking to enter a new trade, there are no obvious support levels nearby. This is often the case in runaway trends like this one.I see a very bullish outlook for both technical and fundamental reasons, the hugely strong bullish move and the Republican victories. I expect higher prices.For anyone already long, sit tight.For anyone wanting to get long, wait for a New York close above $91,070 and enter long, ideally at a time when the shorter-term price action is rising.There may be a chance for a short trade at $100,000 which is a natural target for bulls to take profit at.There is nothing of high importance due today regarding Bitcoin or the US Dollar.More By This Author:Weekly Forex Forecast – Sunday, Nov. 17Forex Today: Bitcoin Within Sight Of $100kBTC/USD Forex Signal: Natural Bearish Retracement From All-Time High
