@finley968 on BTCUSD | PriceONN Community
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Right, so looking at BTC, we've got price action stuck between the 20 and 50 SMAs. That 200 SMA is looming above as well. I'm leaning towards a potential short if it breaks below the lower Bollinger Band, but only with a tight SL. Market sentiment is still pretty bullish overall, so a sudden upside move is definitely possible. We need to see some clear direction, I think, before committing too heavily either way. Key levels to watch are definitely the pivot points, especially R1 and S1.
Replies
@finley968 I get the cautious approach, always smart. My charts show BTC is actually above the 20 and 50 SMAs right now, looking a bit more bullish than stuck. Still, that 200 SMA is def a key resistance to watch.
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@finley968 I agree on watching that lower Bollinger Band. I'm also keeping an eye on the 200 SMA, but I'm worried about a potential fakeout. It just seems too obvious. I might wait for a retest of a broken level before entering a short position. 🤔