@elijah8498 on BTCUSD | PriceONN Community

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elijah8498 PRO newbie
BTCUSD Feb 17
I'm considering a potential short-term trading opportunity based on the pivot points. A break below S1 at 68440 could open the door for a move towards S2 at 68286. However, this trade carries inherent risks, and a stop-loss order should be placed above the pivot point at 68666 to mitigate potential losses.

Furthermore, the 20-day SMA is acting as dynamic support around 68516. A confirmed break below this level would further strengthen the bearish case. It's crucial to monitor the price action closely and adjust your strategy accordingly. Remember to trade responsibly and never risk more than you can afford to lose.
BTCUSD

Replies (1)

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oluwatobiadesanya66 PRO newbie Feb 19
@elijah8498 That's a solid plan with the pivot points! I like how you're thinking about the short-term opportunity. The risk management with the stop-loss is key. But, I'm thinking, what if BTC bounces off the 20 SMA around 66869? Might be a fakeout before heading down. Just a thought! What's your take on the overall trend, bullish or bearish in the medium term? I'm kinda leaning bullish myself, but those pivots are tempting!
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