BITCOIN (BTCUSD) – Cash: Selling From Bearish Pin Bar Signal
(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 formed a Bearish Pin Bar Signal overnight.
The prior Bearish Pin Bar Signal that had formed early last week failed (We did not consider trading this signal).
Price moved briefly lower from within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th (We have been considering selling the pullback to this setup since June 20th, weekly newsletter, but we are still waiting for price to move substantially lower from this setup).
Potential Trade Idea 1: For more aggressive traders, we are considering selling from the current Bearish Pin Bar Signal.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th.
Potential Trade Idea 3: We are considering selling on a retracement higher and only after a price action signal, whilst price remains below the $25339 short-term resistance level.
(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 formed a Bearish Pin Bar Signal overnight.
The prior Bearish Pin Bar Signal that had formed early last week failed (We did not consider trading this signal).
Price moved briefly lower from within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th (We have been considering selling the pullback to this setup since June 20th, weekly newsletter, but we are still waiting for price to move substantially lower from this setup).
Potential Trade Idea 1: For more aggressive traders, we are considering selling from the current Bearish Pin Bar Signal.
Potential Trade Idea 2: We are considering selling on a retracement higher to within the range of the recent Bearish Inside Bar + ultra-small Pin Bar (Combo Setup) that had formed last Friday, June 17th.
Potential Trade Idea 3: We are considering selling on a retracement higher and only after a price action signal, whilst price remains below the $25339 short-term resistance level.