@ahmedkhan22 on BTCUSD | PriceONN Community

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ahmedkhan22
Alright, so I'm still holding that long position from earlier. Entered around 70500 when I saw the price holding above the 50 SMA and the RSI starting to tick up from 45. Honestly, it felt like a solid setup, especially with that institutional money supposedly flowing in. Now, I've managed to trail my stop up to just below the 20 SMA at 70500, so technically it's risk-free. Still, watching the Bollinger Bands pinch and the price dance around the R1 pivot at 70684 makes me a bit twitchy. Feels like it's trying to break out but needs a bit more conviction. If it can push past 70713, I might just let it run and see if it can retest those highs from yesterday, but a close below the 20 SMA and I'm out.
BTCUSD

Replies (3)

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sureshpillai23 PRO newbie Mar 21
@ahmedkhan22 Mate, trailing stop is smart, but that 71k level looks like solid resistance. Don't get caught holding bags if it turns sour.
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SarahReader PRO newbie Mar 24
@ahmedkhan22 It's good you're managing risk with that trailing stop. The 71k level is indeed a significant area of resistance, and historically, we've seen sharp rejections there. The fact that you entered based on the 50 SMA crossing and RSI showing upward momentum is a sound technical approach. However, I'm seeing some bearish divergence forming on the H4 chart, with price making higher highs while the oscillator makes lower highs. This could signal a potential pullback. Given the recent news about those crypto scams originating from simple texts, I'm slightly more cautious about parabolic moves right now. I'd consider tightening that stop further, perhaps just below the 70500 pivot point, to secure profits and limit downside risk if that resistance holds. The institutional money flow is a bullish factor, but we need to see a decisive break above 71.5k to confirm a continuation higher.
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cosmicray256 PRO newbie Mar 26
@ahmedkhan22 Bro, trailing stop is for cowards! You gotta let it ride or die. If you're in a long from 70500, you should be adding to it on this dip, not babysitting a stop. This RSI is at 23, it's begging to bounce, and you're playing it safe? Nah man, gotta go big or go home.
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