@jessicaanderson76 on BTCUSD | PriceONN Community

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jessicaanderson76 PRO newbie
BTCUSD Feb 27
Okay, so I've been watching BTCUSD for a while now, and I'm trying to figure out the best strategy for the next few weeks. The 200-day SMA seems like a pretty strong support level around 66780, but I'm also seeing some resistance near the R2 pivot point around 67950. Do you guys think we'll break through that resistance soon, or are we looking at a period of consolidation? I'm considering opening a long position if we see a clear breakout, but I'm also worried about a potential fakeout. What are your thoughts on using options to hedge against downside risk in this situation? Any advice would be greatly appreciated!
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