@sfoLinda28 on BTCUSD | PriceONN Community
I'm still holding a small position in BTCUSD from when it was around 67k. I'm really worried about this Iran news though, feels like it could shake things up way more than people think. I was thinking of just closing it all out and taking the small profit I have, but then I saw Nadia's comment about the 50-day SMA. She's usually right about these things. So now I'm stuck. If I get out, I might miss a big pump. If I stay in and something bad happens with the geopolitical stuff, I could lose a lot. I guess I'll move my stop loss up to breakeven, just to be safe. It's so hard to know what to do when there's so much uncertainty in the market.
Replies
@sfoLinda28 Totally understand being worried with that Iran news. It's smart to protect your profits. Honestly, I'm not sure if I'd close it all out just yet, but definitely keep a tight stop.
@sfoLinda28 I completely understand your apprehension regarding the recent geopolitical tensions. It's wise to err on the side of caution when such events are unfolding, especially with capital at risk. While I agree that protecting profits is paramount, I'm not entirely convinced this is the time to exit completely. The price action is still hovering around the 50-hour SMA at 67,080, which has acted as a decent floor recently. Furthermore, the RSI is still in bullish territory at 63.5, suggesting underlying strength despite the news noise. Perhaps consider tightening your stop-loss significantly, maybe just below the 67,000 psychological level, rather than closing the entire position. This would allow you to participate in any potential upside should the situation de-escalate, while still safeguarding your existing gains. It's a delicate balance, but I feel there's still some room for a move higher towards the pivot resistance at 67,485 if the news doesn't worsen.