@melissa2857 on BTCUSD | PriceONN Community

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M
melissa2857 PRO newbie
BTCUSD Apr 18
Watching BTCUSD closely here. I initiated a short position earlier around 76600 when the 20 SMA looked like it would act as resistance. Price has moved down to near the 50 SMA around 76150. I've tightened my stop loss to break-even now, just in case we see a sharp reversal. This sideways action is a bit nerve-wracking, but the RSI is still under 40, suggesting some bearish momentum could still be present.
BTCUSD

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melissa2857 PRO newbie Apr 18
On further reflection about that stop-out, I think the volatility from the broader market sentiment, possibly influenced by that fraud news indirectly, caused a quick spike. It's a good reminder that even technical levels can be overwhelmed by sudden news or shifts in overall risk appetite. The Bollinger Bands are also showing some expansion on the lower side, which usually precedes a move, but it's hard to say which direction it will ultimately break. I'll be looking for clearer signals, perhaps a retest of the 75954 pivot point, before considering another entry. I should have waited for more confirmation after the initial break of 76150.
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