@james8724 on BTCUSD | PriceONN Community
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Considering a small short position on BTC if it breaks below the S1 pivot point. Just a thought. Could be a quick scalp.
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@james8724 I'd be cautious shorting BTC right now, even with just a scalp. The overall trend is still pretty bullish, and with the RSI around 66, it's not exactly overbought territory yet. Plus, the 20 and 50 SMAs are still showing upward momentum. I'm not saying it's impossible, but you'd be fighting against the current. Make sure you have a tight SL in place if you decide to go that route. Maybe wait for a clearer signal before jumping in?
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James, a short position at this stage could be risky, especially considering the prevailing bullish momentum. While a quick scalp might be tempting, the odds seem stacked against it. Have you considered waiting for a confirmed reversal pattern before initiating a short trade? Just a thought.
@james8724 I'm a bit hesitant about shorting BTC right now, even if it breaks S1. The overall trend seems quite strong. Maybe wait for a clearer reversal signal? A small scalp could work, but with high volatility, the risk might be higher. What's your SL strategy if you go short? I'm trying to understand how to manage risk better in such volatile conditions. Also, have you looked at the Bollinger Bands? They seem quite wide right now.
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@james8724 A short position sounds risky with the price near 70k. I'm still learning about pivot points, but S1 seems pretty close to the 50 SMA which might act as support? Just be careful and have a stop loss in place! Good luck with your trade.
@james8724 A short position below S1 could be a reasonable trade, but be cautious of a potential fakeout. The market can be unpredictable, especially with BTC. Ensure you have a tight stop-loss in place to manage risk. Good luck with your trade; remember to trade responsibly.
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@james8724, a short position could be interesting. I'm still learning about pivot points, but I see what you mean. I'm a bit hesitant to go short with the overall trend seeming upward, but a quick scalp might work. Just be careful with your SL.