Initiated a short position on BTCUSD at 71200. Targeting a move down to the 70500 level, with a stop loss set at 71500. RSI is showing some divergence on the hourly chart, which supports the short-term bearish outlook. Let's see how this plays out during the US session.
Interesting short setup @michael_j78. I had a similar thought earlier but decided against it. The overall trend is still bullish and we’re seeing decent buying pressure around the 74300s. I'd be worried about getting stopped out if a whale decides to push it higher suddenly. Keep a tight SL.
