Trade Bitcoin Trading

Pin bar bitcoin price action method

A pin bar is a reversal cryptocurrency signal on a cryptocurrency chart which portrays an obvious change in sentiment during that period.

This bar has got a long tail with closing bitcoin price near the open.

Bar resembles a pin thus the name Pin-Bar - forms after an extended trend move up or ==22==downwarddownwards.

This reversal is confirmed after market closes below the candle that precedes this pattern. Below the reversal is confirmed after the btcusd market closes below the blue candle that preceded this candle.

Pin Bar BTCUSD Price Action Reversal - Reversal Strategy - Reversal Method

Combining Together with line studies:

This signal can be combined with other line tools like Support & Resistance levels, Fib retracement levels and bitcoin trendlines can be used together in combination with this trading signal to generate buy/sell cryptocurrency trades.

Support & resistance

A pin bar that forms after bitcoin price hits an important support/resistance area can be used as a signal to enter the btcusd market. When this pattern forms the transactions taken should be in the opposite direction of the tail.

If the btcusd market moves up this forms a pin bar with tall upper tail, then the trading signal is to short.

If the btcusd market moves down then forms a pin bar with tall lower tail, then the trading signal is to long.

BTCUSD Trading Reversal Strategy - BTCUSD Reversal Method

Combining Together with Support & Resistance

Bitcoin Trendlines and moving averages

Pin bars that form after bitcoin price touches a bitcoin trend line or moving average can be used as signals to enter the btcusd market.

Pin Bar Action Combined with Bitcoin Trend lines - Reversal Method

Combining with Bitcoin Trend Lines

Pin Bar Bitcoin Price Action Combined with Moving Averages - BTCUSD Trading Reversal Strategy

Combining with Moving Averages

Bitcoin Trading Fibo Retracement Areas

Pin bars that form after bitcoin price touches/tests a Fib retracement can also be used as signals to enter the btcusd market.

Pin Bar Bitcoin Price Action Combined with Fibonacci Retracement Levels - Bitcoin Trading Reversal Strategy

Combining Together with Bitcoin Fib Retracement Zones

These trading patterns are often developed near extremes in market swings, and they often happen at after false breaks. This is why this pattern is used to place trade transactions on the direction in the opposite market trend of the tail.

Study More Tutorials & Topics:

Forex Seminar Gala

Forex Seminar

Bitcoin Broker