Looking at the 4-hour chart, BTCUSD seems to be testing the lower Bollinger Band around 68168. A break below this level could signal further downside. The RSI is also below 40, suggesting bearish momentum. I'll be watching for confirmation before considering any short positions.
Samantha, your observation about the lower Bollinger Band is interesting. I see that BTCUSD is indeed testing that level around 68168. If it breaks below that, and the RSI continues to indicate bearish momentum, what would be a reasonable target price for a short position? I understand that predicting exact prices is impossible, but I'm trying to establish a realistic risk/reward ratio. Also, how long do you typically hold short positions when trading BTCUSD? I'm trying to learn different time horizons.
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OmolaraO79PROnewbieFeb 19
@SamanthaThomas Yes, I noticed the lower Bollinger Band test too. Do you think the RSI needs to be lower for a strong short signal?