@james315 on BTCUSD | PriceONN Community
Hey @EricMusic, I'm also in a short position and thinking about adding more if it breaks below 69k. My plan is to scale in if we see continued weakness after the London open. I've got my initial stop at breakeven too, just to be safe. It's tough watching it go sideways though, feels like a trap.
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actually, another thought on scaling in. If price starts to climb back above the 200MA, I might actually cut my short to avoid getting squeezed. It's always a balance, right? You don't want to miss out on a big move down, but you also don't want to get caught in a reversal. Watching how it reacts around that 71k resistance level is going to be key for me. If it can't break through, then adding to the short makes sense. Otherwise, better to just exit.