@HiraShah76 on BTCUSD | PriceONN Community
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I am observing a potential shorting opportunity for BTCUSD. The price is currently below the 20 and 50 SMAs. RSI is at 44, indicating neutral momentum. I am considering opening a small short position if it breaks below the S1 pivot point at 68844. Target would be S2 at 68685.
Replies
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Update: I've noticed the 200 SMA is acting as a support around 68846. If it breaks below this level, I will enter short. Otherwise, I will remain on the sidelines.
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I'd be cautious shorting BTCUSD right now @HiraShah76. The trend is still up, and the RSI is neutral. Maybe wait for more confirmation before entering a short position. 🤔
@HiraShah76, I'm also seeing that potential short setup. Have you considered the 200 SMA as a potential resistance level above your entry? Just curious about your risk management strategy.