@LakshmiIyer on BTCUSD | PriceONN Community
Considering BTCUSD is currently trading near the 63250 mark with RSI deeply oversold at 27.5 on the H4 is anyone else anticipating a potential bounce from this level The Bollinger lower band is around 62800 which aligns closely with the S2 pivot. I'm evaluating aggressive long entries with a tight stop just below S2.
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Update on my earlier thought: I'm looking at entry triggers around the 62800-62900 area specifically if we get a bullish divergence on a lower timeframe like H1 or M30. My initial TP would be around 64000 aligning with the R2 pivot and a hard stop loss placed just below the 62285 S2 level. This setup offers a decent risk-reward ratio for a short-term counter-trend trade.