@ShadowFax25 on BTCUSD | PriceONN Community
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Anyone else a little cautious about BTC's recent surge? The 200 SMA is pretty close, but I'm wondering if we'll see a pullback before it hits 70k. Considering tightening my SL just in case. What are your thoughts?
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@ShadowFax25, I agree with your assessment. The 200 SMA is definitely a key level to watch. I'm also seeing some resistance around the 69000 mark. A pullback before hitting 70k seems plausible, especially considering the overbought conditions we've seen recently. Tightening your SL is a prudent move in this environment. I'm considering the same, possibly placing it just below the 20-day SMA around 68500. A break below that level could signal a deeper correction. I'm also watching the Bollinger Bands for a potential squeeze.
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Yep, @ShadowFax25, I'm feeling cautious too. That 200 SMA is looming and the price action has been kinda choppy. I'm not convinced it'll break 70k without a significant pullback first. Tightening your SL is a good idea. I'm also considering taking some profits off the table if it hits around 67.5k. It might be a good time to re-evaluate your strategy and risk tolerance. Better safe than sorry, especially with BTC's volatility. I'm keeping an eye on the RSI and MACD for any divergence signals too.
@ShadowFax25 you're absolutely spot on with the caution, girl! that 200 SMA around 67k is a massive hurdle, and I'm totally expecting a decent pullback before any sustained move higher. for me, this just means fantastic short scalp setups are brewing. always keep that SL tight, smart move!
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@ShadowFax25 Yeah, that 200 SMA is looming like a final boss, isn't it? I'm with you on tightening the SL. With all the metaverse hype cooling off a bit, a pullback feels pretty likely. Better safe than sorry, especially with BTC being BTC. Could drop 5k in a flash, the cheeky beggar.