BITCOIN (BTCUSD) – Cash: Price Collapses From Bearish Fakey Setup
(WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS).
Price Action: Price moved lower from the recent Multiple Inside Bar Pattern that had formed late last week (We suggested trading this pattern in the April 29th, members' daily newsletter).
Price moved lower from the prior Bearish Pin Bar Signal (Event Zone) that had formed just under the 42608 short-term resistance over two weeks ago (We suggested trading this signal in the April 24th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea 1: For more aggressive traders, we are considering selling on a retracement higher to within the range of the recent Multiple Inside Bar Pattern.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the prior Bearish Pin Bar Signal (Event Zone).
(WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS).
Price Action: Price moved lower from the recent Multiple Inside Bar Pattern that had formed late last week (We suggested trading this pattern in the April 29th, members' daily newsletter).
Price moved lower from the prior Bearish Pin Bar Signal (Event Zone) that had formed just under the 42608 short-term resistance over two weeks ago (We suggested trading this signal in the April 24th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea 1: For more aggressive traders, we are considering selling on a retracement higher to within the range of the recent Multiple Inside Bar Pattern.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the prior Bearish Pin Bar Signal (Event Zone).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.