@nicolethomas93 on BTCUSD | PriceONN Community
Okay, so I'm thinking about a long position on BTCUSD. I know the RSI is neutral, but the price is near the 20 SMA. If it bounces off the 20 SMA around 68690, I'm thinking of buying in! I'd set a stop-loss maybe a little below the Bollinger Band lower at 68170 to manage my risk. My take profit would be near the R1 pivot point around 68860. Does this sound like a reasonable plan? I'm open to suggestions! I'm still trying to figure out how to read these indicators, so any advice would be great! I'm so excited, but also nervous!