@leo5733 on BTCUSD | PriceONN Community
Just initiated a small BTCUSD long position, roughly 0.5% of my capital. I'm really not comfortable going larger than that given the current choppy market conditions and the proximity to the 200-day SMA. It's more of a test trade to see if this support holds, rather than a conviction play. I'll be watching the risk very closely.
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Actually, thinking about it more, I probably should have set a tighter stop loss initially. The 200-day SMA is still quite a bit above the current price, and there's that resistance around 77800 from the Bollinger bands. If this doesn't show immediate strength, I might just cut it even if it's a small loss. The Canaan/Tether news is interesting, but not enough to make me throw caution to the wind here. Need to see actual price action confirm it.