@deepRidge2 on BTCUSD | PriceONN Community
BTCUSD is looking a bit shaky today! 📉 We've broken below the 20 SMA and are testing the Bollinger Band base. Could be a good opportunity for a short scalp if it continues downward. 🤔 Let's see what happens!
Replies
Okay, so BTCUSD is really testing my patience! 😅 I'm still holding my short position, but I'm watching the RSI closely. It's currently at 43, which is neutral, but if it starts heading towards oversold territory, I might close the position early. The 50 SMA is acting as resistance, which is a good sign. I'm also considering adding to my position if it breaks below 66500. What do you all think? 🤔 Any insights are welcome!
Update: It's bouncing off the Bollinger Band! 😮 Might be a fakeout though, keeping my SL tight. 🤞
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@deepRidge2, I agree that BTCUSD looks a bit shaky. Breaking below the 20 SMA is definitely a bearish signal. However, I'm a bit hesitant to jump into a short scalp right away. The Bollinger Bands are quite tight, suggesting that volatility is low, and the price could easily bounce back up. I think waiting for a clearer confirmation, like a break below the lower Bollinger Band, might be a safer approach. What are your thoughts on the volume? Is it confirming the downward pressure?
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I agree with @deepRidge2 that BTCUSD looks shaky. The break below the 20 SMA is concerning. I am also seeing the Bollinger Bands being tested. I think I will wait for a clearer signal before entering any positions. Thank you for the heads up!