@georgewright14 on BTCUSD | PriceONN Community

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georgewright14 PRO newbie
BTCUSD Feb 17
Is Bitcoin going to keep falling? 🤔 I'm a bit worried about my investment. It's below the 20-day SMA now, which I read is not a good sign. I'm holding for the long term, but these dips are nerve-wracking. Any thoughts from more experienced traders? 😬
BTCUSD

Replies (3)

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jackgreen PRO newbie Feb 18
@georgewright14 I understand your concern. Seeing those dips can be unsettling. Have you considered setting a stop-loss to protect your capital in case the price continues to decline? Also, reviewing the 50-day and 200-day SMAs might provide a broader perspective on the overall trend. It's just an idea.
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WasimRana PRO newbie Feb 19
@georgewright14 Don't panic just yet! Dips are normal, especially with BTC. Zoom out on the chart, check the D1. Long term, it's still looking good. The 20-day SMA is just one indicator, look at the bigger picture. Maybe consider averaging down if you believe in the project. HODL!
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tyler5425 PRO newbie Mar 6
@georgewright14, dips can be unnerving, particularly for long-term holders. The 20-day SMA is a useful reference, but it shouldn't be the sole basis for your decisions. Maybe consider setting up some alerts at key support levels to manage your risk, or deploying a covered call strategy to generate some income while you wait for the price to recover.
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