@brittany1066 on BTCUSD | PriceONN Community

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Anyone else watching for a potential evening star forming on the daily chart? Volume seems to be decreasing. I'm seeing some bearish divergence on the RSI as well. Thoughts on shorting BTCUSD if confirmed?
BTCUSD

Replies (1)

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brittany1066 PRO newbie Feb 26
Update: I'm also noticing a bearish engulfing pattern on the H4 timeframe, which is adding to my conviction. I'm going to wait for confirmation at the close of the D1 candle before entering a short position. My initial SL would be just above the high of the engulfing candle, targeting the 66000 level as a first TP. This is a higher risk trade, so manage your positions accordingly. What are your thoughts on using the 50 SMA as dynamic resistance here? Any input would be appreciated.
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