@siti4755 on BTCUSD | PriceONN Community
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I've been looking at BTCUSD on the H4 chart and considering a potential setup, though I'm still learning. The price is currently below the SMA50 and 200, which suggests bearish pressure, but it's very close to the SMA20.
If it bounces off the lower Bollinger Band at 62428, and holds above the S1 pivot at 62871, could that be a viable long entry point? I'm thinking of a tight SL just below S2 at 62286. For TP, maybe targeting the SMA50 around 65198 or even R1 at 63939 first. I'm trying to combine these indicators for a disciplined approach. Does this seem like a reasonable strategy for an investor looking for short-term opportunities within a neutral trend?
If it bounces off the lower Bollinger Band at 62428, and holds above the S1 pivot at 62871, could that be a viable long entry point? I'm thinking of a tight SL just below S2 at 62286. For TP, maybe targeting the SMA50 around 65198 or even R1 at 63939 first. I'm trying to combine these indicators for a disciplined approach. Does this seem like a reasonable strategy for an investor looking for short-term opportunities within a neutral trend?
Replies
@siti4755, your H4 analysis is sound. However, given the current geopolitical climate, technicals may take a backseat to fear-driven buying or selling. Consider tightening your stop-loss orders.