@oscar02 on BTCUSD | PriceONN Community
O
Monitoring BTCUSD closely for a potential swing trade! The recent price action suggests a possible shift in momentum. While the 200-day SMA still provides support, the break below the 50-day SMA is concerning. I'm observing the Bollinger Bands for a squeeze, which could indicate an imminent breakout. A decisive break below the lower Bollinger Band at 67056.36, coupled with confirmation from the RSI, would signal a strong sell signal. I'll be setting my TP around 66000, anticipating a retest of previous support levels. Risk management is crucial, so I'll place a tight SL above the 50-day SMA. What are your thoughts on the overall market sentiment?