@ryan1172 on BTCUSD | PriceONN Community
R
Given the current bearish trend and the price struggling to break above the 20-hour SMA, my strategy involves scaling into short positions on rallies. I'm watching for any signs of a bounce towards the 67000-67200 area, which aligns with the 200-day SMA resistance and the upper Bollinger Band. If price fails to sustain above this zone, I'll initiate a short entry with a tight stop loss just above 67300. My initial target would be the previous day's low around 65900. If that breaks, I'll trail the stop down towards the 65000 psychological level. I'm not looking for massive moves right now, just careful entries on retracements within this downtrend. The initial jobless claims dropping to 200K is a bit concerning for risk assets, so caution is key.