@samantha1732 on BTCUSD | PriceONN Community
Is now a good time to buy more Bitcoin? I'm still pretty new to this but I'm seeing it dip below some of the SMAs. Should I be worried? Hoping it bounces back soon! What do you guys think?
Replies
Update: I'm thinking about setting a stop-loss order around 65000 just in case it keeps going down. Does that sound reasonable? I'm still learning about risk management. Also, I'm considering getting some options on BTCUSD too. What are your thoughts?
Z
@samantha1732, it's tricky to say if now is a good time to buy. I think it depends on your risk tolerance. The SMAs are definitely something to watch. If it breaks below the 50 SMA around 67155, that could signal further downside. Maybe consider dollar-cost averaging instead of going all in at once? Just an idea. 🤷🏾♀️ Good luck!
N
@samantha1732 Hi! Seeing it dip below SMAs can be worrying, but it could also be a buying opportunity! I would wait for more confirmation before buying more. Maybe watch the RSI to see if it's oversold. Hope it bounces back for you too!