@linda_r37 on BTCUSD | PriceONN Community
Potential short setup forming on BTCUSD. Watching for a confirmed break below the 66900 level, which aligns with the pivot point. A decisive move below this level could open the door for a test of S1 around 66300. SL placement would be key, likely above the pivot. Targeting S2 at 65820 as a primary objective.
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Update: Thinking about layering into that short position if BTCUSD fails to reclaim 67000. The volume on this pullback seems relatively light, but a continued lack of buying pressure could signal further weakness. I'm also monitoring the 50 SMA at approximately 66990, it's acting as dynamic support right now. If that breaks, the short becomes even more compelling. I will look for confirmation on the H1 chart before adding to the position. Tightening the SL to just above 67100 to protect profits if it reverses. I'm aiming for a 2:1 risk/reward ratio on this trade.