@emily_b62 on BTCUSD | PriceONN Community

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emily_b62 PRO newbie
BTCUSD Mar 8
Anyone else noticing the potential for a short-term bounce around the Bollinger Band support? Seems like a decent area for a liquidity grab before another leg down. Just wondering if I'm missing something, always good to get a second opinion before pulling the trigger. What do you guys think?
BTCUSD

Replies (1)

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sparker843 PRO newbie Mar 11
@emily_b62 I think you're onto something with that potential bounce! I'm seeing a similar setup on my charts. I'd be cautious about a full-on short just yet, though. The 50 SMA is still holding pretty strong, and we've been bouncing off it like crazy. I'm thinking a small long position around 69500-69600 could be a decent play, with a tight stop-loss just below the Bollinger Band. But yeah, definitely agree with waiting for confirmation. This market is wild af rn 😂. Maybe even watch for a false breakout below the band to trap bears before a real rally.
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