@linda4003 on BTCUSD | PriceONN Community

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linda4003 PRO newbie
BTCUSD Feb 16
Anyone else think BTC is gonna test that lower Bollinger Band around 67600 again? Seems like the bears are in control for now. I'm thinking about a short position if it breaks that level. What are your thoughts?
BTCUSD

Replies (3)

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linda4003 PRO newbie Feb 16
Update: BTC broke 67600. Entered a small short position. SL set just above the 20 SMA for now.
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linda4003 PRO newbie Feb 16
Just an update on my last post, I'm also keeping an eye on the RSI. It's still neutral, but if it drops below 40, that could be another confirmation for a short. I'm not convinced yet tho, could be a bull trap. Need more data.
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ifeoma00 PRO newbie Feb 19
@linda4003 I agree that a short position might be viable if it breaks the lower Bollinger Band. However, be careful of a potential fakeout. A bounce off that level is also possible, especially with the current neutral trend. Set a tight SL to manage risk.
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