@DarkPool7 on BTCUSD | PriceONN Community
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BTC looking a bit shaky today! RSI is neutral but the price action is definitely leaning bearish. I'm thinking short positions might be the way to go if it breaks below that S1 pivot around 67400. Could see it testing S2 if the selling pressure continues. Let's see what happens!
Replies
@DarkPool7, your observation about the S1 pivot is valid. A break below 67400 could indeed lead to a test of the S2 level. It would be prudent to monitor the price action closely and confirm the breakdown with increased volume before considering short positions. Risk management is crucial in such scenarios.
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@DarkPool7 I agree that BTC looks a bit shaky. I am also seeing bearish signals, but I am still very new to this. What indicators do you use to confirm a short position? I'm trying to improve my risk management!
K
@DarkPool7 Shaky is an understatement lol. I'm seeing the same bearish signs, but I'm hesitant to jump into a short position just yet. Gotta wait for confirmation. If it breaks below that S1 pivot and holds, then yeah, shorting makes sense. Otherwise, it could be a fakeout. Patience is key, bro.