@christopher1942 on BTCUSD | PriceONN Community

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christopher1942 PRO newbie
BTCUSD Feb 16
I'm thinking of going long on BTC, but I'm a little nervous. The price seems stuck around 68700. I've been reading about the Bollinger Bands, and it looks like the price is right in the middle. Does that mean it could go either way? I'm aiming for a TP of 70000 but I'm not sure where to set my stop loss. What do you guys think is a safe SL level, considering the current volatility? Any thoughts on how to play this?
BTCUSD

Replies (1)

melissa3856
melissa3856 PRO newbie Feb 27
@christopher1942, tbh, longing BTC right now seems risky. The market's showing bearish signals. That 68700 level you mentioned? It's been broken. And the BB middle band isn't a strong signal alone. I'd wait for more confirmation before jumping in. Maybe look at shorting opportunities instead, but always manage your risk!
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