@mwilson389 on BTCUSD | PriceONN Community

Update: So far, so good on that short. BTC dipped below 68500. I'm moving my SL down to 68900 to lock in some profit. Still targeting 67500, but I might take some profit earlier if I see strong support forming. Keep an eye on those Bollinger Bands, could get choppy. This is just a quick scalp, so I'm not trying to get greedy. A little profit is better than none. Remember to manage your risk people!

Hey @mwilson389, your short idea on BTCUSD sounds interesting! I'm a little hesitant though, since the 200 SMA is still holding around 68600. It might act as support. I agree that breaking 69k is key. If it fails to hold there, your target of 67500 seems reasonable. I'd personally wait for a confirmed break below the 200 SMA before entering a short position. Good luck with your trade!

Interesting perspective, @mwilson389. While a short position could be tempting given the resistance around 69k, the overall trend remains bullish. A tight stop-loss is prudent, but I'd be cautious about targeting 67500 directly. A bounce off the 50-day SMA (67249.1) is a possibility, potentially invalidating the short trade. Risk management is key in this scenario.