Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

FM meets UN chief, raises IWT violations

July 22, 2025

Infantino backs England’s Carter over racist abuse – Sport

July 22, 2025

Senators denounce honour killing as lawmakers call for justice

July 22, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » BTC/USD Signal of the Day – 03/06: Bullish Wedge Trend (Chart)
Trend

BTC/USD Signal of the Day – 03/06: Bullish Wedge Trend (Chart)

i2wtcBy i2wtcJune 3, 2024No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


My previous BTC/USD signal from last Wednesday was not triggered as there was no bullish bounce when the $67,475 support level was first reached.

Today’s BTC/USD Signals

  • Risk 0.75% per trade.
  • Transactions can only be entered by 5pm Tokyo time on Tuesday.

BTC/USD Signal of the Day - 03/06: Bullish Wedge Trend (Chart)

Long Trade Ideas

  • Then, enter a long position if the bullish price movement reverses on the H1 timeframe after reaching $68,243 or $67,088.
  • Place your stop loss $100 below the local swing low.
  • Once your profit from the trade price reaches $100, move your stop loss to the breakeven point.
  • When your profit from the trade price reaches $100, you take 50% of your position as profit and leave the rest of your position as is.

Short Trade Ideas

  • Then, take a short position if the bearish price movement reverses on the H1 timeframe after reaching $69,526 or $70,625.
  • Place your stop loss $100 above the local swing high.
  • Once your profit from the trade price reaches $100, move your stop loss to the breakeven point.
  • When your profit from the trade price reaches $100, you take 50% of your position as profit and leave the rest of your position as is.

The best way to identify a typical “price movement reversal” is by the closing of an hourly candle such as a pinbar, doji, outside, or simply an engrifying candle with a higher close. By observing the price movement that occurs at certain levels, you can take advantage of these levels or zones.

BTC/USD Analysis

In my BTC/USD analysis last Wednesday, I wrote that the price was in a symmetric bullish price channel in the medium term, which was a bullish sign. I was expecting the price to establish above $70,625. This was not a particularly good prediction, but it was enough to keep anyone out of trouble, as the price never reached $70,625.

Current technical indications are a medium-term bullish wedge pattern with the price based around a gradual ascending trend line which is very much coincident with the horizontal support level at $68,088, while the price has been cutting below for almost three weeks.

Bitcoin is stuck in this wedge pattern and I think there are two scenarios to watch out for.

  1. If the price establishes itself above $69,526, it will be a weak bullish sign, if the price rises above $70,625, it will be a very bullish sign.
  2. The price is now below the ascending trend line at around $66,700, which will be a bearish sign.

Such breakouts and breakdowns can be traded using two consecutive hourly closes.

There is nothing particularly significant about Bitcoin or the US Dollar today.

Are you ready to trade free Forex signals with Bitcoin? Here is a list of the best MT4 crypto brokers worth checking out.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

Trend

Nvidia’s China return buys time for Beijing to boost its chip drive

July 21, 2025
Trend

CoreWeave announces $1.5 billion bond sale

July 21, 2025
Trend

OpenAI says it will use Google’s cloud for ChatGPT

July 16, 2025
Trend

Nvidia CEO wants to sell advanced chips to China after H20 ban lifted

July 16, 2025
Trend

ASML Q2 2025 earnings report

July 16, 2025
Trend

Amazon-backed Anthropic rolls out Claude AI for financial services

July 15, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

FM meets UN chief, raises IWT violations

July 22, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

FM meets UN chief, raises IWT violations

July 22, 2025

Infantino backs England’s Carter over racist abuse – Sport

July 22, 2025

Senators denounce honour killing as lawmakers call for justice

July 22, 2025
Most Popular

Mainland China suspends tariffs on 134 items under trade agreement with Taiwan

May 31, 2024

China says it will be “difficult” to enter into talks over Russia-Ukraine war due to deal issues

June 1, 2024

China’s top spy agency has accused the Chinese couple of spying for the UK and passing state secrets to MI6.

June 3, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.