@LeboSelepe96 on BTCUSD | PriceONN Community
I'm looking at a potential short position on BTCUSD if it breaks below the S1 pivot point around 68048. My TP would be near the S2 pivot around 67916. SL just above the pivot point. What do you guys think? Risky or worth it?
Replies
@LeboSelepe96 That sounds like a reasonable trade setup. Just be mindful of potential fakeouts around pivot points. Maybe wait for confirmation before entering.
G
@LeboSelepe96, I find your short idea interesting, but a break below S1 might not be enough confirmation. The 20-day SMA is just below that level, providing additional support around 66837. A more conservative approach might be waiting for a break and retest of that SMA before entering a short position. Just my opinion.