@daniel1997 on BTCUSD | PriceONN Community
Potential short setup forming on BTCUSD. Price currently testing the R2 pivot around 68700. Failure to break this level, coupled with the neutral RSI, could signal a move back down to the 68400 pivot point. A tight stop-loss above R2 is advisable to mitigate risk.
Replies
I agree with the potential short setup, @daniel1997. However, I'd exercise caution with a tight stop-loss directly above R2. We might see a fakeout before any substantial downside move. I'm waiting for a confirmed rejection at R2, perhaps with a bearish engulfing on the H1, before entering a short position.