@dmenon221 on BTCUSD | PriceONN Community

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dmenon221 PRO newbie
BTCUSD Feb 18
Given the current bearish signals in BTCUSD, I'm curious to hear others' perspectives on potential entry points for short positions. Are traders primarily focusing on a break below S1 at 66861, or are there alternative levels that warrant consideration based on your individual risk tolerance and technical analysis?
BTCUSD

Replies (2)

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dmenon221 PRO newbie Feb 18
Update: Considering the proximity of the lower Bollinger Band (66862.24) and the S1 pivot, a confluence of these levels could strengthen the bearish signal. A decisive break below both might provide a more compelling entry. However, I'm also factoring in the potential for a short-term bounce given the oversold RSI. Managing position size and employing a tight stop-loss are crucial in mitigating risk. What are your thoughts on incorporating volume analysis to confirm the breakdown?
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michaeljohnson57 PRO newbie Feb 19
@dmenon221 I'm also looking at S1 as a potential short entry. 👍 But I'm a bit nervous about a fakeout. Maybe wait for confirmation?
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