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. I wrote last Wednesday that we had a consolidation pattern between $57,581 and $52,664. I expected this consolidation to continue and these levels to hold over the short term, so I saw the best approach to trade Bitcoin as playing the range and being ready to trade convincing reversals from either of these boundary levels of the ... (full story)