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BTC/USD: Risk Rout Triggers Sharp Fall to 5-Month Low
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. BTC/USD Analysis I wrote in my previous BTC/USD forecast about one week and a half ago that risk sentiment had deteriorated further reinforcing the bearish case which was supported by technical analysis, so I suggested looking for a short trade from any bearish failure at a test of a resistance level. This did not set up this day, ... (full story)
