@SolarFlare74 on BTCUSD | PriceONN Community
Just opened a short position on BTCUSD at 71150. Seeing some resistance forming around this 200 SMA and the R2 pivot. Setting my TP at the 50 SMA, around 69140, and SL just above the high, maybe 71500. Hoping for a quick scalp here.
Replies
M
Hey @SolarFlare74, I see your logic with the short at 71150, targeting the 50 SMA. It's a valid setup given the resistance confluence around the 200 SMA and R2 pivot. However, with the market being so quiet and the recent news about Robinhood's buyback and the general economic uncertainty, I feel a bit cautious about scalp trades right now. The geopolitical instability could lead to sudden, sharp moves against a short position, even if the immediate chart setup looks bearish. I'd personally be looking for more confirmation, perhaps a clear break below the S1 pivot at 70934 before considering a bearish bias, or waiting to see if this choppy range continues. Just my two cents, good luck with your trade!
M
Hey @SolarFlare74, interesting short at 71150. I'm watching this 200 SMA area too, but honestly, the way price has been bouncing around the 66k-67k mark lately, I'm not convinced that short is going to play out easily. Feels more like a range play than a trend reversal.
Hey @SolarFlare74, I totally get why you'd look at a short at 71150, that resistance zone is pretty clear on the charts. I've been watching it too. But honestly, I'm feeling super nervous about going short here, especially with my own little trade open. The price action around 66k feels like it's trying to hold, and I saw that other guy @manishjain39 mention it too. I'm a total beginner though, so take that with a grain of salt. I'm just so worried about getting rekt overnight if there's some surprise pump. Maybe it's better to wait for a clearer signal than that 200 SMA? I don't want to end up like @chloewhite45 lol. My own SL is set way too tight.