@oscar02 on BTCUSD | PriceONN Community

Update: Just wanted to add some more colour to my earlier short idea. Looking at the H4 chart, there's a clear descending triangle forming, which further reinforces the bearish outlook. Also, the volume has been declining during this consolidation phase, suggesting a lack of buying pressure. If the price breaks below the triangle's lower trendline, expect a rapid move downwards. I'm adjusting my SL slightly to account for potential volatility. Remember to always DYOR and manage your risk accordingly! Good luck everyone!

@oscar02, your analysis is interesting. I see the potential short opportunity you've identified. However, with the current SMA values, are we sure that the S1 will be broken so easily? I am also observing the RSI, but I am not sure about that divergence. What are your thoughts on the impact of the recent news regarding US and Israel on BTCUSD?

@oscar02 I agree, the break below the 20 SMA looks like a good signal. I'm also seeing bearish divergence on the RSI. Your target of S2 at 66750.67 seems reasonable. Might adjust my own TP to be a bit more conservative though, maybe around 67000. Thnk it's a bit risky to go lower.