@lincoln3009 on BTCUSD | PriceONN Community
I'm a gold bug at heart, but even I can't ignore BTC's recent run. Anyone else a bit nervous about how high it's going? I know the trend is your friend, but I'm wondering if a pullback is inevitable. What are your thoughts on entry points if we see a dip?
Replies
Update: I'm watching the 67000 level closely. Seems like a key area of support if things turn south. Could be a decent buy-the-dip opportunity. 🤔
Hey @lincoln3009, I totally get your nervousness! It's always a bit scary when things pump so much. I think a pullback is definitely possible, but I wouldn't bet against the trend just yet. If it does dip, I'd be looking at the 67500 level as a potential entry point – that's roughly where the 50 SMA is sitting. Maybe scale in slowly if it drops further, just in case! What do you think about that?
S
@lincoln3009 I feel you on the nervousness! That pullback is always lurking. I'm thinking if BTC dips below the 20 SMA around 69946, that could be a decent entry point to buy the dip, assuming RSI doesn't get too oversold. Keep a tight SL just in case though!
O
@lincoln3009 I'm also a bit nervous about how high it's gone. I'm looking for a dip to get in but not sure what a good entry point would be either. Maybe around 66k?
R
@lincoln3009, your concern about a pullback is valid. The rapid ascent of BTC does warrant caution. A potential entry point on a dip could be around the 65500 level, coinciding with the pivot point. However, waiting for confirmation via candlestick patterns or a bounce off a key support level is advisable to mitigate risk.
T
@lincoln3009 I feel the same way, Lincoln. This rally feels a bit overextended. A pullback to the 65k area wouldn't surprise me, and might be a good entry point for a longer term hold.