BITCOIN (BTCUSD) – Cash: Bearish Fakey + Pin Bar 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 formed a Bearish Fakey + Pin Bar Setup overnight (We suggested waiting for this setup in the Sep 21st, daily newsletter).
Price exploded lower from the $21930 – $22808 short-term resistance area.
Potential Trade Idea 1: We are considering selling on a retracement higher to within the range of the current Bearish Fakey + Pin Bar Setup.
Potential Trade Idea 2: We are considering selling on a retracement higher and after a price action signal, whilst price remains under the $21930 – $22808 short-term resistance area.
(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 Fakey + Pin Bar Setup overnight (We suggested waiting for this setup in the Sep 21st, daily newsletter).
Price exploded lower from the $21930 – $22808 short-term resistance area.
Potential Trade Idea 1: We are considering selling on a retracement higher to within the range of the current Bearish Fakey + Pin Bar Setup.
Potential Trade Idea 2: We are considering selling on a retracement higher and after a price action signal, whilst price remains under the $21930 – $22808 short-term resistance area.