@SamanthaDeleon77 on BTCUSD | PriceONN Community
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I was thinking of putting a lot more into BTC, but honestly, seeing it hover around this 67k level just makes me nervous. What if it suddenly crashes? I'm just sticking to a very small position size for now, maybe 1% of my capital, because I don't want to lose too much if the price drops unexpectedly. Better safe than sorry.
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Hey @SamanthaDeleon77, I totally get the nervousness. This drop from the highs has been pretty brutal, and seeing it stall like this is definitely unsettling. I'm also being super cautious with my entries lately. Those jobless claims dropping to 200k last week really made me think twice about the Fed cutting rates soon, which isn't great for risk assets like BTC. Sticking to small sizes makes sense until we see a clear trend.
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Hey @SamanthaDeleon77, I understand your caution completely. It's wise to manage risk, especially when the market feels uncertain. Seeing BTC consolidate around 67k after that sharp move from the highs can indeed be nerve-wracking for many traders. Personally, I've been observing the 200-day SMA at approximately 67,537 as a key level; its proximity to the current price suggests a battleground.
While the immediate sentiment might be a bit jittery, the fact that we haven't seen a significant breakdown yet, even with the slight bearish divergence on some shorter timeframes, is noteworthy. The RSI is sitting at a neutral 45.7, which doesn't scream immediate sell-off. I'm keeping an eye on the S2 pivot point around 68,000 as a short-term support. If that holds, there's still a chance for a retest of higher levels, perhaps near the Bollinger band average. It's all about observing these levels and not getting emotionally attached to any single outcome.
While the immediate sentiment might be a bit jittery, the fact that we haven't seen a significant breakdown yet, even with the slight bearish divergence on some shorter timeframes, is noteworthy. The RSI is sitting at a neutral 45.7, which doesn't scream immediate sell-off. I'm keeping an eye on the S2 pivot point around 68,000 as a short-term support. If that holds, there's still a chance for a retest of higher levels, perhaps near the Bollinger band average. It's all about observing these levels and not getting emotionally attached to any single outcome.