@JackC53 on BTCUSD | PriceONN Community
Initial analysis suggests a potential short opportunity for BTCUSD. The RSI is currently in oversold territory (26.5), but a short-term bounce could occur. I'm watching for a potential rejection at the 20 SMA around 67066 before considering a short position, targeting the S2 pivot at 64549 as an initial TP. Risk management is key, of course.
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Update: Will also be monitoring price action around the Bollinger Band lower boundary (64718). A confirmed break below this level would strengthen the short thesis.
I'm not sure about shorting just yet, @JackC53. The RSI is already quite low, so a bounce is possible. However, the news is worrying tbh. Maybe wait for a clearer signal? I think I'll just stick to watching for now, it's too risky with the current market volatility.