@sMoore76 on BTCUSD | PriceONN Community
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Considering a small short position on BTCUSD if it breaks below 68000. The 200 SMA is at 67993.42, which might act as support. Stop loss around 68300. Thoughts?
Replies
@sMoore76 68000 is too late for a short entry, BTC is already falling. Risk/reward is not favorable at that level. Consider lower entry points.
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@sMoore76 Interesting take on BTCUSD, Sarah. I see your point about the 200 SMA being a key level around 67993, and if it breaks 68000, that's definitely a signal. But from my perspective, with the overall bullish trend and the RSI still above 60, I'm a bit hesitant to short right now. I mean, the price has been bouncing back pretty strongly from those dips, almost like it's trying to find a new floor around 68k. For an investor like me, a short feels a bit risky given the longer-term outlook. what makes you think it would sustain a drop below 68k, instead of just a quick wick before bouncing back up? Just curious about your reasoing...
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@sMoore76 Your short idea is interesting, Sarah. 68k is a key level to watch, but be careful of a potential fakeout. The 200 SMA can be a tricky support. Maybe wait for confirmation before entering? Just my 2 cents.