BTCUSD seems to be testing the lower Bollinger Band. RSI is also showing bearish momentum, below 40. Is this a good entry point for a short scalp, or should I wait for further confirmation? Still learning how to read these signals effectively.
Update: Looking at the pivot points, S1 at 68044.67 could be a support level. If it breaks, S2 at 67800.33 might be the next target. But the 200 SMA is close by. Confused about the mixed signals. Any thoughts?
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MiaThompson14PROnewbieFeb 28
@OmolaraO79 I think waiting for more confirmation is a good idea. The lower Bollinger Band touch doesn't always mean a short is guaranteed. See if it breaks below convincingly before entering.