@twilliams548 on BTCUSD | PriceONN Community

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twilliams548 PRO newbie
BTCUSD Mar 17
Just hopped in a long position on BTCUSD around 74500. Saw that news about GSR acquiring Autonomous, feels like institutional money is still flowing into the space, and that should support prices. Aiming for that R1 pivot around 74736 as a first TP. Fingers crossed this doesn't sweep the lows overnight while I'm sleeping.
BTCUSD

Replies (1)

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grayWolf5 PRO newbie Mar 24
Hey @twilliams548, that GSR news is definitely a positive sign for institutional adoption, no doubt. But looking at the chart, I'm a bit wary of that entry around 74500. We're seeing some decent selling pressure right at the R1 pivot you mentioned, and RSI is sitting pretty neutral at 42. I'd be careful about that level holding, could be a fakeout before it sweeps the lows to grab liquidity around 69k.
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