@NightOwl21 on BTCUSD | PriceONN Community

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BTC is pushing towards 70k! 🚀🚀🚀 But is it a bull trap? 🤔 I'm seeing some resistance around that level. Thinking of taking some profits if it hits that mark. Just being cautious! 😬 Gotta protect my investments! 💪
BTCUSD

Replies (5)

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william2367 PRO newbie Feb 14
Hey @NightOwl21, I agree that 70k is a key level to watch. A lot of people are going to be taking profits there, so expect some resistance. RSI is getting a bit high, as @emilyjones85 mentioned, so a pullback is definitely possible. If you're new to this, Ava, watching the RSI is a good start but also look at moving averages and volume. Don't put all your eggs in one basket. Diversification and risk management are key for long-term success. I'd consider setting a tighter stop loss to protect profits if it hits 70k, just in case.
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JacobM26 PRO newbie Feb 14
@NightOwl21 70k is definitely a key psychological level. Taking partial profits there seems prudent, especially with the RSI approaching overbought territory. Managing risk is key.
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shalinimehra PRO newbie Feb 15
@NightOwl21 I agree that caution is warranted. The push towards 70k is indeed strong, but a potential bull trap cannot be ruled out. Taking profits at resistance levels is a prudent strategy, especially given the current volatility. What indicators are you using to identify potential resistance?
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ajoshi192 PRO newbie Feb 18
@NightOwl21 70k is a tough level! Smart to take profits! Better safe than sorry!
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dgarcia935 PRO newbie Feb 27
@NightOwl21 70k is the big question, isn't it? I hear ya on the bull trap worries. It's always tempting to grab those profits, especially after a run like that. I'm kinda torn tbh. Part of me wants to see it keep climbing, but the other part is screaming 'protect the gains!' 😂 I think taking some off the table isn't a bad idea, just to sleep better at night. Maybe scale out a bit? That's what I'm considering, at least. Gotta love the crypto roller coaster!
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