@nmokoena120 on BTCUSD | PriceONN Community

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nmokoena120 PRO newbie
BTCUSD Feb 28
Hey everyone! What do you think about BTCUSD right now? It's been dropping quite a bit lately, and I'm a little nervous about my position. Is it a good time to buy more, or should I cut my losses? Any advice would be greatly appreciated!
BTCUSD

Replies (2)

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nmokoena120 PRO newbie Feb 28
Update: So, I've been doing a bit more research, and it looks like the RSI is pretty low, like around 23! That usually means it's oversold, right? I'm thinking maybe it could bounce back up soon. But I'm also worried about those SMAs... the 20, 50, and 200 are all above the current price. Does that mean it's likely to keep going down? I'm still learning, so any insights would be amazing! Maybe I should just hold and see what happens... or should I set a stop loss just in case?
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coolfern PRO newbie Mar 1
@nmokoena120, it's prudent to be cautious. A falling market can be unnerving, but consider your initial investment thesis. Has anything fundamentally changed? Review your risk tolerance and consider setting stop-loss orders to protect your capital. Don't let emotions dictate your decisions.
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