It’s February 14 and what meaning – we’re midway by the month!

Give your P&L a mid-month increase by making the most of Bitcoin exhibiting a possible reversal sample whereas USD/JPY heads for a pullback zone.

Verify them out!

Bitcoin (BTC/USD) 4-hour Foreign exchange Chart by TradingView

Simply when it appeared like Bitcoin was headed for its August 2022 highs, BTC/USD discovered sufficient sellers at 24,300 and now the pair is buying and selling underneath 22,000.

Will the rejection at 24,000 result in a bearish reversal?

BTC/USD is forming a attainable Head and Shoulders sample on the 4-hour timeframe. In the meantime, the 100 SMA is closing its hole with the longer-term 200 SMA.

A dip beneath the Head and Shoulders “neckline” may drag BTC/USD to earlier areas of curiosity like 20,400 or 18,300.

But when Bitcoin bounces from the 200 SMA and its neckline help, then we may see BTC/USD retest its 23,00 – 24,000 earlier highs.

USD/JPY Day by day Foreign exchange Chart by TradingView

In case you missed it, USD/JPY has been making larger highs and better lows since mid-January when it hit backside at 127.50.

I’m taking a more in-depth take a look at the day by day timeframe immediately as a result of USD/JPY is nearing an inflection level that served as resistance in July and in December.

This time round, the 136.00 – 136.00 potential resistance zone traces up with the 38.2% Fibonacci retracement of the final main downswing.

What’s extra, it’s additionally close to the day by day chart’s 100 and 200 SMAs that will quickly present a bearish crossover.

However 136.00 remains to be a whole lot of pips away.

Y’all nonetheless have time to think about alternate situations in your buying and selling plan in the event you’re considering of buying and selling USD/JPY’s pullback!