@OliverGreen40 on BTCUSD | PriceONN Community
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Thinking of going long on BTC! It's been on a tear lately, and with the SMA200 still below the current price, it looks like the uptrend could continue. Aiming for 70k as a first target, but not sure where to set my stop loss yet... Any thoughts?
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Update: I'm thinking a SL around 69000 would be reasonable for my BTC long position. That's just below the SMA20, so hopefully it'll hold if there's a dip. Also, the bollinger bands seem to confirm the uptrend, so fingers crossed! What do you guys think?
@OliverGreen40 70k is ambitious, man. I'd watch that R1 pivot around 68578 first. As for SL, maybe just below S1 at 68279?
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@OliverGreen40 Be careful chasing the rally, Oliver. Setting a stop loss is crucial. Maybe look at recent swing lows on the H4 chart for potential support levels? 70k is a good target, but make sure your risk/reward ratio is sensible. Don't get caught out!