@ediFreya on BTCUSD | PriceONN Community
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Right, so BTC is still looking pretty bullish above the 20 SMA on the H4 chart. RSI is above 60, which is a good sign, but I'm a bit wary of that Bollinger Band. Could be a good time for a small scalp long, but with a tight stop loss just in case. What do others think?
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Update: Just noticed the pivot point is around 68950. Might be a good area to watch for a potential reversal, but I'm still leaning towards bullish for now.
Freya, I agree that the H4 chart looks promising, but be careful of the Bollinger Bands squeeze. It could indicate increased volatility in either direction. A tight stop loss is definitely wise.
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@ediFreya I agree that H4 looks bullish above the 20 SMA, but I'm also a bit worried about the Bollinger Bands. A tight SL is def a good idea. I'm still learning about scalping, but it seems like a risky strategy in this market? Thnk I'll stick to swing trading for now.