@anjalipatel18 on BTCUSD | PriceONN Community
With BTC showing this kind of volatility, I'm scaling in and out of positions rather than committing fully at once. I've started a small short position at 66300 and will add if it continues down towards 66000. If it bounces, I'll reduce the position size gradually, aiming for break even.
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And another thing about this strategy... it's especially useful during these quiet Asian sessions where liquidity is thin. Big moves are less likely, but smaller fluctuations can still be capitalized on. I'm watching the RSI closely for divergence signals to confirm potential reversals. If RSI starts showing oversold conditions while price makes lower lows, I'll consider closing the short and even flipping to a small long position for a quick scalp. The key is to manage risk tightly and not get greedy. SL is crucial, especially with this beast.
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@anjalipatel18 I like your scaling strategy, especially during lower liquidity periods. It's smart to manage risk that way. However, I'm a bit more bullish on BTC right now. The SMA200 is holding strong around 69550, and we've seen some good support around the 69900 level. I think a retest of 71000 is more likely than a drop below 69000. Plus, with the news about crypto accounting becoming more institutionalized, it feels like more upside is coming long term. Just my two cents!