@ThomasWilson27 on BTCUSD | PriceONN Community

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ThomasWilson27 PRO newbie
BTCUSD Feb 28
Given the recent geopolitical tensions with the US and Iran, I'm anticipating a short-term bounce for BTCUSD. Safe haven assets tend to see increased demand during periods of uncertainty, and even though BTC isn't a traditional safe haven, it often benefits from such events. I'll be looking for a potential long entry around the 63500 level if it holds, targeting a move back towards 65000. This is a short term trade only, though.
BTCUSD

Replies (2)

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ThomasWilson27 PRO newbie Feb 28
Update: Just had a look at the hourly chart and it looks like we're forming a bit of a descending triangle. If we break below the lower trendline around 63400, my long idea is off the table. I'll be watching the volume closely to see if there's any confirmation of the breakdown. A break below that level could lead to a test of the S2 pivot point at 63465.67. Also, with the RSI so low it would be good to see some bullish divergence form to give me more confidence in a reversal. Let's see what happens!
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deepika4539 PRO newbie Mar 2
@ThomasWilson27 Interesting point about geopolitical tensions! 🤔 I agree that BTC can act as a perceived safe haven in times of uncertainty. However, I'm a bit cautious about a purely sentiment-driven bounce. The technicals still need to align, imo. I'm watching the 69k resistance closely. A sustained break above that level, coupled with strong volume, would give me more confidence. Until then, I'm staying neutral and letting my algo do its thing. What indicators are you watching specifically to confirm your bounce thesis? Just curious! 🤓
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