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My previous BTC/USD signal on 10th October was not triggered as there was no bearish price action when the resistance levels which I had identified were first reached's BTC/USD Signals

Risk 0.75% per trade.

Trades may only be entered before 5pm Tokyo time Wednesday Trade Ideas

• Go long after a bullish price action reversal on the H1 timeframe following the next touch of $26,534, $25,986, or $25,826.
• Put the stop loss $100 below the local swing low.
• Move the stop loss to break even once the trade is $100 in profit by price.
• Take off 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride.

Short Trade Ideas

• Go short after a bearish price action reversal on the H1 timeframe following the next touch of $26,981, $27,329, or $27,524.
• Put the stop loss $100 above the local swing high.
• Move the stop loss to break even once the trade is $100 in profit by price.
• Take off 50% of the position as profit when the trade is $100 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/USD Analysis

I wrote in my previous BTC/USD analysis the price was contained within a consolidating triangle pattern .

I thought that the resistance level within this triangle at $27,750 looked quite likely to hold if reached, so it would probably be the day's pivotal point.

This was an excellent call, as the price got very near to that level before making a major bearish breakdown below the triangle.

The price then found support at my support level of $26,534 to the pip and has been rising since. However, if the price down not get established above the nearest resistance level at $26,981 the technical position remains basically bearish.

Due to the medium-term bearish trend, I will be ready to take a short trade from a bearish reversal we might get today at either $26,981 or $27,329, with the latter being quite confluent with the lower trend line of the triangle and therefore possibly being a strong level.

There is likely to be volatility in the market today due to the US inflation data release, so today could be a great time to trade after the release is made.

Concerning the US Dollar, there will be a release of US CPI (inflation) data and Unemployment Claims data at 1:30pm London time.

Ready to trade our daily Bitcoin signals ? Here's our list of the best Bitcoin brokers worth checking out.

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