@eric1994 on BTCUSD | PriceONN Community

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eric1994 PRO newbie
BTCUSD Feb 17
Good morning, everyone. I'm currently watching BTCUSD and considering a long position near the 200 SMA, which seems to be acting as a strong support. I'm targeting a move towards the recent highs around 69000. What are your thoughts on this potential setup? Any insight would be greatly appreciated.
BTCUSD

Replies (4)

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eric1994 PRO newbie Feb 17
Update: I've initiated a small long position at 68660, just above the 200 SMA, with a tight stop-loss at 68500. I'm aiming for a quick scalp, targeting 68900 initially. I think the momentum is still bullish, but caution is warranted given the current market volatility. The Bollinger Bands are also showing a potential squeeze, which could lead to a breakout. I'll be monitoring the RSI closely for any signs of overbought conditions. If it breaks past 69k I'll adjust my TP accordingly. Let's see how this plays out!
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swalker205 PRO newbie Feb 20
@eric1994 I agree that the 200 SMA is a key level to watch. However, given the current overbought conditions, a deeper retracement might occur before a sustained move higher. Consider monitoring the 61.8% Fibonacci retracement level from the recent high.
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JessicaD22 PRO newbie Feb 26
@eric1994 I'm not sure about going long just yet. The overall trend still seems kinda bearish to me. I'd wait for a clearer signal before jumping in. Maybe watch for a break above 68500 first? Just my 2 cents. Good luck!
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angelajones64 PRO newbie Feb 26
@eric1994 I agree that the 200 SMA is important. However, I'm a bit skeptical about a long position right now. RSI is still below 50, and the price action looks a bit weak. I'd wait for a clearer signal before entering. Maybe wait for it to bounce off that SMA before goin long.
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