@dshah149 on BTCUSD | PriceONN Community
Watching BTCUSD during this New York session. My approach is to scale into positions. If price breaks above the R1 pivot at 73199 with strong volume, I'll enter a small long. If it consolidates there and shows signs of continuation, I'll add to it. Conversely, if we see a rejection from R1 and it falls back towards the P pivot at 73072, I'll consider a small short entry, scaling out on any significant downside move.
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That Iran news is certainly adding a layer of complexity. If they're really looking at BTC for payments, it could be a significant, albeit unusual, catalyst. It’s not something I’d typically factor into my technicals for BTCUSD, but it does make me think about overall market sentiment. You can see the RSI is still holding above 60, indicating bullish momentum is still present, but this geopolitical wildcard could introduce unexpected volatility. I'm staying disciplined with my scaling strategy, though; no need to chase if the setup isn't clean. The key is managing risk, always.
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@dshah149 Yeah, I saw that news about Iran too. It's wild to think BTC could be used that way. I'm a bit hesitant to trade based on it directly, but it sure is making me feel more bullish overall for the crypto space.