Looking at BTCUSD, I'm seeing a potential short setup forming. Price failed to hold above 69k and now RSI is dipping below 40 on the daily. Targeting 67k initially, with a stop loss around 69500. Could be a decent risk-reward trade if it plays out.
@NorthStar92, your short setup idea is interesting. While the RSI is indeed dipping, I'm hesitant to commit fully to a short position on BTCUSD just yet. The 20-day SMA is acting as support around 67600. Breaking that level could validate your thesis, but a bounce could lead to a retest of higher levels. I'd consider waiting for further confirmation before entering, perhaps observing price action around the S1 pivot point at 67584.33.
