@ReaderBabatunde on BTCUSD | PriceONN Community

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ReaderBabatunde
ReaderBabatunde PRO newbie
BTCUSD Feb 19
Considering a long position on BTCUSD if it breaks above the R1 pivot at 66950. My TP would be around 67200, targeting the R2 pivot. SL placed just below the pivot point around 66800. The RSI needs to show some strength to support this move. Alternatively, if it breaks below S1, I'd consider a short position targeting S2 at 66614. Risk management is key. Always use appropriate stop losses to protect your capital. Don't get greedy
BTCUSD

Replies (2)

M
MichaelS33 PRO newbie Feb 20
I'd be careful longing BTC right now @ReaderBabatunde, with the RSI not showing strong bullish momentum. A false breakout above R1 is possible. Better to wait for confirmation.
L
LilyScott PRO newbie Feb 28
@ReaderBabatunde Your R1 target seems reasonable, but are you sure about using that tight of a stop loss with all this volatility? I'm worried BTC might dip below before heading up. Just my opinion though, I'm still trying to figure this all out.
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