Forex Signals

Bitcoin: Entry on Consolidation.

Bitcoin had a sharp reversal movement early morning today. This movement is creating an engulfing candle in the daily chart. The hourly chart shows a  complex reversal formation followed by a large bullish candle which creates a morning star figure on strong volume.

The Next hourly candle pierces through the upper limit of the channel and also through the red descending trendline that marks the mid-term downward trend. The following candlesticks are creating a consolidating triangular structure that basically is a continuation signal.


The trade shows a 4:1 RR and the current momentum is bullish, therefore this is basically a trend-following trade.

Key levels of the trade:

  • Long entry level:7000
  • Stop-loss: 6,890
  • Take profit: 7,400


  •     1 BTC: $110
  •  0.1 BTC: $11
  • 0.01 BTC:$1.1

Reward: About 4x the risk.



By Fran S.

I love math, data science, and, also, financial markets. I love to write about system analysis, money management, risk, and math for traders. I hold a degree in Telecommunications Engineering by Univ. Autónoma de Madrid, and a Master in Business Administration and Marketing by Univ. de A Coruña.

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