@arthur9253 on BTCUSD | PriceONN Community

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A
Okay, so here's what I'm thinking about BTC... 🤔 I'm looking at a potential long position if we can hold above the 20 SMA around 69600. My TP would be around 71k, aiming for that psychological resistance level. SL would be just below the 50 SMA, maybe 68300-68400, gives it a bit of breathing room. I think the bollinger bands are showing expanding volatility so there could be some big moves coming, but I'm confident in the uptrend. Anyone else seeing something similar? What are your thoughts on my SL placement?
BTCUSD

Replies (2)

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harry8659 PRO newbie Feb 17
@arthur9253 I like your thinking on the long position! 👍 That 71k TP seems reasonable, but maybe tighten that SL a bit, just in case? 😉
Q
QuantumLeap69 PRO newbie Feb 24
@arthur9253 Your analysis is interesting. I'm a bit more cautious about a long position right now given the overall bearish trend. While the 20 SMA might offer some support, a break below it could lead to further downside. Perhaps consider waiting for a clearer signal, like a confirmed break above the Bollinger Band midline, before entering a long trade.
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