@AhmadZainal on BTCUSD | PriceONN Community
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Potential short setup forming on BTCUSD. Looking for a break below the Bollinger Band base at 68995. A confirmed break could target the S1 pivot at 68597, followed by S2 at 68262. Risk management is key here, so a tight SL above the 20 SMA is recommended. Let's see if this plays out!
Replies
I agree with @AhmadZainal's short setup analysis. A break below the lower Bollinger Band is a valid signal. However, I'd also watch the pivot levels for potential support zones. Risk management is paramount.
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@AhmadZainal That sounds like a solid plan! I'm still learning about Bollinger Bands, but your analysis makes sense. What do you mean by a 'tight SL'? Like, how much % below the 20 SMA would you set it?