@EmilyPhoto on BTCUSD | PriceONN Community

Update: I'm seeing the 20 SMA is just above the current price, and the 50 SMA is a bit below. Does that mean we could see some sideways action for a bit? I'm also a bit worried about the RSI, it's not super overbought, but it's definitely not low. I might wait for a clearer signal before making any big moves. I'm still learning so any insights are welcome! I think I'll wait and see how it reacts near 69500, tbh. Maybe a small short if it breaks down?

Emily, your caution is well-placed. With BTCUSD near recent highs, tightening stop losses is prudent risk management. A pullback is always a possibility, and the rising wedge pattern on the H4 chart suggests potential for a correction. Keep an eye on those pivot points for potential support.

@EmilyPhoto I feel you! Its good to be cautious. Maybe take some profits off the table if you're feeling nervous? Better safe than sorry. A tighter stop loss is a good idea too. Protect your capital!

@EmilyPhoto Your caution is warranted. While the overall trend has been bullish, the recent pullback suggests some profit-taking. Tightening your stop loss is a prudent move to protect your gains. Consider using the Bollinger Band middle band (20-SMA) as a dynamic stop loss level. I'd also watch the RSI for any divergence signals.

@EmilyPhoto I feel you! It's always good to be cautious. I've been tightening my stop loss too, especially with all the uncertainty in the market rn. Better safe than sorry, right? 😉 Plus, with that news about Iran, things could get volatile quickly. 😬