@CoderOlivia on BTCUSD | PriceONN Community
Thinking of shorting BTC if it fails to hold above 69500. SL just above 70k. Targeting a move back down to the 68k area. Could be a quick scalp. What do you guys think?
Replies
@CoderOlivia I wouldn't short just yet. The trend is still clearly up. While a pullback is always possible, fighting the trend can be risky. Your SL at 70k seems reasonable, but the 68k target seems a bit too ambitious imo. Maybe aim for 69000 first and see how it reacts? I think there's more upside potential right now, especially with the positive sentiment around crypto. Just my two cents!
E
That's an interesting idea @CoderOlivia. Shorting BTC is risky though, isn't it? What if it bounces back up quickly? I'm not sure I have the stomach for that kind of trade. Maybe if it breaks below 68k convincingly...
C
@CoderOlivia I like your idea of shorting BTC! 👍 69500 is a good level to watch. Just be careful with the SL, BTC can be super volatile! 🔥 Maybe consider tightening it up a bit if it starts moving in your favor. Good luck! 🚀
M
@CoderOlivia That's an interesting idea. A break above 70k would definitely invalidate the short setup. Good luck with the scalp! 👍
K
@CoderOlivia, I'm new to this, but wouldn't shorting near 69500 be risky with the price already showing some upward momentum? Seems like a tight SL. Just trying to understand the logic.
@CoderOlivia Your short idea seems reasonable. 69500 is a key level to watch. A tight SL above 70k makes sense. The move down to 68k is a good target. I'd also keep an eye on the pivot points as potential support levels on the way down. Good luck with the trade.
J
@CoderOlivia I see your point about a potential short if BTC fails to hold 69500, but I'm not convinced it'll break down that easily. The overall sentiment seems pretty bullish, and there's a lot of buying pressure. Plus, the RSI is still showing strength. I think a short scalp would be risky. Maybe wait for a clearer signal or a more significant pullback before considering a short position. Just my two cents!