Crypto Price Action Strategy with Support and Resistance Bitcoin Price Action Indicator

One of the strategies for trading bitcoin price action is use of PinBar. A pinbar is a reversal bitcoin price action signal on a cryptocurrency chart which shows an obvious shift in market sentiment during that period.

This pin-bar candlestick has a long tail with the closing bitcoin price near the open.

The pin-bar candle looks like a pin thus the name Pin-Bar - forms after an extended trend move up or downward.

How to Trade Crypto Price Action Pattern with Support and Resistance Bitcoin Price Action Indicator

This bitcoin price action reversal cryptocurrency signal is confirmed after market closes below the candle stick that precedes this bitcoin price action pattern. Below the crypto pin bar bitcoin price action reversal bitcoin pattern is confirmed after the btcusd trading market closes below the blue candle that preceded this bitcoin price action pinbar candlestick.

How to Trade Crypto Price Action Pattern with Support and Resistance Crypto Price Action Technical Indicator

Combining Pin Bar Crypto Price Action Pattern with Support and Resistance Lines:

This pin bar bitcoin price action reversal cryptocurrency signal can be combined with other crypto line studies such as Support and Resistance levels which can be used together with this bitcoin price action signal to generate buy or sell bitcoin signals.

Support & Resistance Areas

A pin bar bitcoin price action candlestick that forms after bitcoin trading price hits an important support or resistance level can be used as a cryptocurrency signal to enter the btcusd trading market. When a this bitcoin price action reversal bitcoin pattern forms the trades taken should be in the opposite direction of the tail of this bitcoin price action candlestick.

If the btcusd trading market moves up this forms a pin bar candlestick with tall upper tail, then the cryptocurrency signal is to open a sell bitcoin trade.

If the btcusd trading market moves down the forms a pin bar candlestick with tall lower tail, then the cryptocurrency signal is to open a buy bitcoin trade.

Crypto Price Action Strategy with Support and Resistance Crypto Price Action Technical Indicator