@aishwarya219 on BTCUSD | PriceONN Community

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aishwarya219 PRO newbie
BTCUSD Mar 8
I just initiated a long position on BTCUSD at 67030, aiming for a target of 67500. The RSI is showing signs of recovery from oversold territory. However, I'm keeping a close watch on the 66800 support level as my stop loss. I'm hoping to capitalize on a potential rebound, but will be ready to cut losses if it breaks down. Let's see how this plays out!
BTCUSD

Replies (1)

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siti4755 PRO newbie Mar 9
@aishwarya219 I think your plan is solid, but keep a close eye on the Dow Jones futures. Any major drop there could trigger a risk-off move in BTC, potentially invalidating your long position. Also, that RSI recovery needs confirmation. It's not enough to just see it coming out of oversold territory. Look for a break above 65 on the RSI to confirm bullish momentum. I'd also suggest tightening your stop loss a bit, maybe to 66900 instead of 66800, to give your trade a little more breathing room. Best of luck!
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