produced a profitable long trade triggered by the bullish rejection of the support level at $94,735.Today’s BTC/USD Signals
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Long Trade Ideas
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 almost two weeks ago that the price action was looking bullish after breaking up and seeming to hold above $100,000.This was a good call, as the price began its firm rise that day completing the successful bullish breakout above that big round number to new all-time high prices.The price consolidated for several days, but has begun to breakout again to new highs, overcoming $105,000 and even trading above $107,000 a few hours ago.The price has printed new higher support levels during this bullish run, with the nearest support level above $105,000 which is a bullish sign.The price has been trading in blue sky and remains close to the record high it made during yesterday’s New York session at $107,821.All the signs are bullish, so I will be happy to enter a new long trade if we get a bullish bounce at any of the three nearby support levels, especially $105,530.There is nothing of high importance due today regarding Bitcoin. Concerning the US Dollar, there will be a release of Retail Sales data at 1:30pm London time.More By This Author:Forex Today: Bitcoin Breaks $105,000 For First TimeWeekly Forex Forecast – Sunday, Dec. 15AUD/USD Forex Signal: Bullish Bounce Off $0.6345
