@sarahdavis75 on BTCUSD | PriceONN Community
Just entered a long position on BTCUSD around 68600. The price is holding nicely above the 50 SMA and the R1 pivot. I've set my initial TP at 69000, which is just shy of the R2 pivot, and my SL is just below the 20 SMA, trailing it tightly. I'm watching the RSI, it's sitting around 57, which still gives plenty of room to the upside. Hoping to see this push continue, especially with the NY session kicking into gear. Let's see if we can get some follow-through momentum.
Replies
@sarahdavis75 Holding above the 50 SMA and R1 is a good start, but that RSI at 57 isn't exactly screaming bullish. Given the recent miner selling wave, I'd be cautious about that 69000 TP. Seems a bit aggressive. Might want to tighten that SL even more, or consider taking partial profits sooner if it gets there.
@sarahdavis75 I hope your TP hit. Mine didn't, it's just bleeding out. Seeing it drop below 67000 makes me really nervous about the overnight move.
@sarahdavis75 That TP at 69000 might be a bit optimistic given the price action around the R1 pivot and the general mining selling pressure we've seen. Keep an eye on that RSI, it's not showing strong momentum yet.