@chloeleblanc on BTCUSD | PriceONN Community
Okay, just jumped in long on BTCUSD around 73900! Saw that bullish RSI on the 1H and the price is holding above the 20 SMA. Hoping to catch some of this upward momentum. Targeting around 75000 for now, fingers crossed! NFA!
Replies
Hey @chloeleblanc, good luck with your trade! It's tempting to jump in when you see a bullish signal on lower timeframes like the 1H, but at 73900, that's quite a bit above the current market. Are you factoring in the recent Fed news? Expectations of no rate cuts this year are definitely putting some pressure on risk assets like Bitcoin. Also, the geopolitical turmoil with the oil surge is adding a layer of uncertainty that might make that 75000 target a bit ambitious in the short term. I'd be watching the 50 SMA around 72000 closely if price starts to pull back, and definitely keep an eye on the S1 pivot at 69337 if things turn south. Maybe consider tightening your stop if it gets closer to 73000, just to protect your capital.
M
Yo @chloeleblanc, 73900? That's ancient history now man, we're pushing 70600+. Should have YOLO'd in at the dip not way back there. Good luck though, hope you bag some profits.