@odavies807 on BTCUSD | PriceONN Community

Update: About my short idea... I'm also looking at the pivot points. S1 at 69681 is pretty close to the current price. If BTC breaks through that, the short might be invalidated. I'll probably close the position if it goes above the 20 SMA convincingly. Also, I'm a bit concerned about the overall market sentiment; still feels bullish despite the resistance. Maybe a smaller position size is wiser. What do you guys think?

Hi @odavies807, thanks for sharing your idea. I think your plan is reasonable, but I'd suggest being extra careful with your stop loss. Given the current volatility after the Iran news, a wider stop might be a good idea to avoid getting stopped out prematurely. Also, keep an eye on the volume. If the volume increases significantly as it approaches your entry point, it could signal a stronger move. Risk management is crucial, especially with the current geopolitical tensions. Maybe consider scaling into your position instead of entering all at once.