@cdubois46 on BTCUSD | PriceONN Community

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cdubois46
I opened a small BTC long at 68350, targeting a retest of 69000. My SL is tight at 68000, given the current volatility! This dip seems like a reaction to overnight news. I'm keeping a close eye on volume and order book depth. The 200 SMA held, which is encouraging. Still nervous about this bearish engulfing on D1 though! I'll adjust my SL if necessary. Need to protect profits!
BTCUSD

Replies (1)

G
graceparker18 PRO newbie Mar 7
Hi @cdubois46, I'm new to this, so thanks for sharing your trade! When you say the 200 SMA held, what exactly does that mean? Does it mean the price didn't go below it? I'm trying to understand how to use simple moving averages to make better decisions. Also, what do you mean by 'order book depth'? Is that something I can see on PriceONN? I'm a bit worried about the bearish trend, but your analysis gives me some hope! Thanks for any insights you can offer!
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