@brittany1066 on BTCUSD | PriceONN Community

Update: I'm also noticing a bearish engulfing pattern on the H4 timeframe, which is adding to my conviction. I'm going to wait for confirmation at the close of the D1 candle before entering a short position. My initial SL would be just above the high of the engulfing candle, targeting the 66000 level as a first TP. This is a higher risk trade, so manage your positions accordingly. What are your thoughts on using the 50 SMA as dynamic resistance here? Any input would be appreciated.