@liamscout on BTCUSD | PriceONN Community
BTCUSD looking like it might test the lower Bollinger Band around 67500. RSI neutral, but the recent bearish move suggests more downside. I'm considering a small short position, but only if it breaks below 68000. Gotta watch it carefully though, could bounce hard.
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Update: I've initiated a small short position at 67950, SL at 68400. Targeting 67000 initially, but I'll adjust based on price action. The 200 SMA still acts as strong resistance. I'm also keeping an eye on the overall market sentiment; any sudden shift in risk appetite could invalidate this trade. I'm using a tight stop loss because the market is still pretty volatile. Will keep you guys posted.
J
@liamscout I see what you mean about the lower Bollinger Band. I'm pretty new to this, but if it breaks 67500, would you go short right away, or wait for confirmation?