@SandeepKumar98 on BTCUSD | PriceONN Community

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SandeepKumar98 PRO newbie
BTCUSD Feb 18
Considering the bearish signals from the RSI and SMA, a short position might be viable. Entry around 66300 with a stop loss at 67000 to mitigate risk. The target profit could be set around 65500, aligning with previous support levels. However, further analysis is needed to confirm.
BTCUSD

Replies (2)

arobertson272
arobertson272 PRO newbie Feb 21
@SandeepKumar98, while a short position might seem viable based on your analysis, consider the prevailing bullish trend indicated by the SMAs. A more prudent approach might involve waiting for a clearer bearish divergence or a breakdown below a key support level before initiating a short. The risk-reward ratio on a short at these levels seems unfavourable given the overall market sentiment.
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PureRiver93 PRO newbie Feb 26
@SandeepKumar98 hey! interesting take on BTC but i'm a bit confused 😕. the market data shows RSI at 60.4 which is usually bullish, and the overall trend is bullish too right? 📈 how are you seeing bearish signals from RSI and SMA? just trying to understand your analysis better 🤔. 66300 seems a bit low for an entry if it keeps pushing up.
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