BTC/USD Forex Signal 09/09: Bullish Consolidation (Chart)

(MENAFN- Daily Forex) Today's BTC/USD Signals

Risk 0.50% per trade.

Trades must be taken before 5pm Tokyo time Wednesday.

Long Trade Ideas

• Long entry after a bullish price action reversal on the H1 timeframe following the next touch of $111,332, $110,762, or $110,054.
• Place the stop loss $100 below the local swing low.
• Adjust the stop loss to break even once the trade is $100 in profit by price.
• Remove 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

• Short entry after a bullish price action reversal on the H1 timeframe following the next touch of $113,679 or $115,440.
• Place the stop loss $100 above the local swing high.
• Adjust the stop loss to break even once the trade is $100 in profit by price.
• Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money

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

In my recent BTC/USD forecast last Thursday, I thought that the picture looked bearish after breaking down below the support level at $110,569.

I expected a further decline to $107,284 or at least about $108,750. This was a mixed call – I was correct about a decline at least for the first part of the day, but the price did not make it as far as $108,750 before rising to eventually make new highs.

The technical picture has since become more bullish, although the price has been consolidating since the weekend. What makes it look a bit bullish is the cluster of support levels between about $110,000 and $111,000 which looks likely to provide a solid floor to the current price action.

So, a long trade from another bounce at $111,332 looks likely to be the best trade which might set up today. A bullish breakout above $113,679 would likely be a stretch.

There is nothing of high importance due today regarding either Bitcoin or the US Dollar.

EURUSD Chart by TradingView

Ready to trade our daily Forex signals? Here is our list of MT4 crypto brokers worth reviewing.

MENAFN09092025000131011023ID1110038831