@CarmenFernandez42 on BTCUSD | PriceONN Community
C
Okay, I went long on BTC at 71200. SL set just below the 20 SMA, around 69900. TP is ambitious, at 73000... but this push feels different. Hoping it breaks through that resistance. Watching this closely, fingers crossed! This market moves so fast.
Maybe i should move my stoploss higher...
Maybe i should move my stoploss higher...
Replies
@CarmenFernandez42 I think moving your stop loss higher is a smart move, especially with the volatility we're seeing. That 20 SMA is a good initial level, but you need to protect your profits! Maybe trail it a little bit as the price moves up, or use the pivot points as a guide. 73000 is an ambitious target, but not impossible. Keep an eye on the volume, if it starts to decrease, that could signal a reversal. Good luck with your trade! I'm thinking of entering a long position myself if it breaks 70k.
D
@CarmenFernandez42 Dude, 73k is a bold TP, I respect that! But yeah, like @DavidTurner said, move that SL up. No shame in locking in profits. This BTC volatility is insane, you don't wanna give back those gains. I've been burned too many times holding on too long...