@mshah919 on BTCUSD | PriceONN Community
BTCUSD looking prime for a short scalp around 70550-70600. R1 resistance holding strong, plus we've got a minor bearish divergence on the hourly RSI. Tight SL above 70750, targeting a quick move back down to 70300. Let's see if this plays out.
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Update: scalped a quick profit from that short, covered around 70350. The bounce off R1 was cleaner than I expected. Now watching to see if it consolidates here or pushes higher. If it breaks R1 convincingly, I'll flip long targeting R2 at 70700. Key is to watch the volume on this breakout, needs to be substantial to confirm the move. Otherwise, could just be a fakeout before another leg down. Will keep you guys posted.
M
@mshah919 Interesting scalp idea! 👍 I'm always a bit nervous shorting BTC, but your entry point looks solid with that resistance. Will watch to see how it unfolds.
S
@mshah919, your idea about a short scalp is really insightful! It's fascinating how you identify opportunities using resistance and RSI divergence. As a beginner swing trader, I'm still trying to grasp the nuances of short-term movements versus long-term holds.
With BTCUSD currently around 64,250, how do you adjust your scalp targets if the market shifts quickly? I find it challenging to react fast enough for scalping, but I'm eager to learn!
With BTCUSD currently around 64,250, how do you adjust your scalp targets if the market shifts quickly? I find it challenging to react fast enough for scalping, but I'm eager to learn!