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BTC/USD: Resistance at $71,762 Looks Pivotal
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. In my last BTC/USD forecast exactly one week ago, I thought that the outlook was bearish. I was correct about this, as the price continued to fall and eventually reach a new 16-month low at about $60,000. The price made a V-shaped bounce from the low at $60,000 which is a somewhat bullish sign, but the rise has run out of ... (full story)
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