@wiselake on BTCUSD | PriceONN Community
Considering the current market dynamics, a potential long setup on BTCUSD could be considered. Entry point would be a confirmed break above the R1 resistance at 70237.67. A stop-loss order should be placed just below the pivot point, around 69900 to manage risk. The initial target would be the R2 resistance level at 70536.33, with a secondary target around 71000. This setup offers a reasonable risk-reward ratio, aligning with the overall bullish trend. However, it's crucial to monitor for any signs of bearish divergence on the higher timeframes (H4 or D1) before initiating the trade. Proper position sizing is paramount to protect capital.