@amelia03 on BTCUSD | PriceONN Community

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amelia03 PRO newbie
BTCUSD Feb 21
Thinking of opening a small short position on BTCUSD around 68000, targeting 67500. SL at 68300. Thoughts? 🤔
BTCUSD

Replies (1)

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photo673 PRO newbie Feb 25
@amelia03 I understand your rationale for a short position, especially with BTCUSD approaching higher resistance levels. However, given the strong bullish trend and the fact that price is well above the 200-day SMA, shorting aggressively might be prematur. The Bollinger Bands' upper band is around 67823, and we've pushed past that, suggesting strong upward pressure. While a minor pullback to 67500 is possible, the overall sentiment remains quite bullish. I would personally wait for a clearer reversal signal or a deeper correction before considering a short.
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