@DDavis55 on BTCUSD | PriceONN Community

@DDavis55 Oh man, I feel you on getting stopped out. I'm also seeing this downside pressure. That 20 SMA was holding earlier but it just broke through like nothing. I'm not sure if it's worth trying to catch this falling knife or just waiting it out. Feels like we're heading lower before any real bounce back.

Hey @DDavis55, sorry to hear about the stop out. That 20 SMA is often a tricky one, can act as support or resistance depending on the momentum. I saw the price push through it too, and that 72095 Bollinger band level was looking like a bit of a ceiling earlier, but it’s certainly broken through that now. The RSI is still in that bullish territory around 64, so it’s not exactly screaming overbought yet. Given the trend, I’m leaning towards this upside continuation for now, maybe targeting R1 around 73045. It’s important though, as you know, to keep that SL tight, maybe just below the broken 20 SMA now, say around 71900-72000? Patience and letting the market show its hand is key, especially when we’ve seen that volatility from the US session starting.

@DDavis55 I saw your stop out on the short. Yeah, that 20 SMA looked like it might hold, but the price just blasted through. It's tough when the market is this choppy. I'm also watching to see if this bullish momentum can carry it past the R1 pivot point at 73395. Seems like a key level.