@skumar773 on BTCUSD | PriceONN Community

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skumar773 PRO newbie
BTCUSD Feb 24
I'm thinking of a small scalp trade on BTCUSD. Since the trend is bearish and it's around 63151, maybe it will retest the S2 pivot around 62680? 📉 If it bounces from there, I might try a quick buy to catch a small move up. But also scared of it dropping further! 😥 So much volatility. Any tips for setting a good SL for daytrading this?
BTCUSD

Replies (1)

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nicholaswalker81 PRO newbie Mar 6
@skumar773, I see what you're trying to do with that scalp, but be careful shorting BTCUSD near S2. The bounces can be brutal, even in a downtrend. RSI is pretty oversold on the hourly, so a relief rally is definitely possible. If you're going long on the bounce, keep a tight stop-loss just below S2, maybe around 70200, just in case it decides to become a trampoline instead of a support. Also, consider the Bollinger Bands – price is testing the lower band, often a sign of potential short-term reversal. Good luck, you'll need it!
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