@oliver8082 on BTCUSD | PriceONN Community

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oliver8082 PRO newbie
BTCUSD Mar 1
Bloody hell, BTC just tanked! I'm seeing a sharp drop below the 50 SMA. Is this the start of something bigger? I've got a small long position open and I'm sweating bullets right now.
BTCUSD

Replies (2)

O
oliver8082 PRO newbie Mar 1
Further to my previous comments, I'm increasingly concerned about the geopolitical implications of the news regarding Iran. The market's reaction to such events is often irrational in the short term, leading to unpredictable volatility. While Bitcoin is often touted as a safe haven, it rarely behaves as such during initial panic. I'll be monitoring the D1 chart closely for any signs of a sustained reversal. The tightening Bollinger Bands suggest a significant move is imminent, but the direction remains unclear. I'm leaning towards a short position if we fail to hold above the 66000 level.
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oliver8082 PRO newbie Mar 1
Update: Closed my long position for a small loss. Not worth the risk with this volatility. Will reassess at the next pivot point, around 66698.
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