@oluchi3389 on BTCUSD | PriceONN Community
O
I've been watching BTCUSD all day and honestly, the volatility has me nervous. I decided to only allocate a small portion of my capital, maybe 5% of my total portfolio, into this position. I'd rather miss out on potential gains than risk a huge chunk if this market decides to suddenly tank, especially with the US session winding down. It feels like a safer approach for now, given the uncertainty.
Replies
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Yeah, keeping the position size small was definitely the right call. I'm already thinking about closing it before bed, just don't want to wake up to a nightmare.
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Hey @oluchi3389, I totally get your nervousness. This sideways chop around 66.8k is definitely making it hard to find clear direction. I’m also being cautious. The fact that BTC is struggling to break above the 50 SMA on the daily is a bit concerning, and the RSI is sitting right at 50, showing no real conviction. With the crude oil surge pushing up inflation fears, it's wise to keep position sizes small or even stay out for now. I managed a small scalp earlier but I’m not looking to hold anything overnight. Better safe than sorry, as you said.
Hi @oluchi3389, I completely understand wanting to close out before bed. This sideways movement around 66.8k is definitely unnerving, especially with the overnight session ahead. It feels like we're just chopping around the Bollinger middle band. For me, the key will be how BTCUSD reacts to the S1 pivot point at 66,860. If it holds as support, then maybe your small position can ride it out. But if we see a decisive break below that, or even below the 50-day SMA, then closing that position would be a very prudent move to avoid any nasty surprises when you wake up.