@mthomas567 on BTCUSD | PriceONN Community

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M
I just opened a small long position on BTCUSD at 68250. The RSI is showing oversold conditions, and we're right around the 200-day SMA, which could act as support. I'm setting a tight stop-loss just below the SMA at 67900 to manage risk. My initial target is around 69000, aiming for a quick bounce.
BTCUSD

Replies (1)

M
mthomas567 PRO newbie Mar 6
Update: My long position at 68250 is currently slightly in profit! I've moved my stop-loss up to 68100 to lock in some gains in case of a sudden reversal. I'm still holding the position, hoping for a push towards my initial target of 69000. I'm also keeping an eye on the Bollinger Bands, as @lightspeed28 mentioned. If the price breaks above the middle band, that would give me more confidence in the upward move. I might even consider adding to my position if that happens. Fingers crossed!
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