@jwilson198 on BTCUSD | PriceONN Community
J
Just shorted BTCUSD at 67350. This looks like inducement for a bigger drop. Expecting price to head towards the 200 SMA at 67042. If that fails, we're going lower.
Replies
Hey @jwilson198, I hear ya on the short idea. It does look a bit like they're trying to lure people in before a big move down. But @michelle9653 makes a good point about the thin volume on those downswings. That's what's making me hesitate to jump in on a short. If sellers aren't really showing up, who are they selling *to*? I was watching earlier and saw some pretty decent buying pressure around the 67200 area, felt like a bit of a dead cat bounce maybe? I'm not sure I trust this bearish push to go too far. Might be a trap for us shorts if price rips higher from here.