@olivia3408 on BTCUSD | PriceONN Community
Closed my BTC short position I opened yesterday near 67500. Managed to grab around 700 pips. The RSI was showing overbought conditions on the 1H chart, and the price action suggested a potential reversal. Happy with the outcome, small but consistent gains are key. Now watching for a potential long entry if it retraces to the 66000 support level.
Replies
Update: I'm now considering a long position around the 66500 area, coinciding with S1 pivot. The overnight session has been relatively quiet, but I anticipate increased volatility as the European session begins. I'll be monitoring the 50 SMA closely as well; a break below that level would invalidate my long thesis. My initial TP target is around 67300, aiming for a 1:2 risk-reward ratio. SL will be placed just below the S2 pivot, around 65950. Overall, I am slightly bullish on BTC in the short term, but remaining cautious due to the unpredictable nature of the market.