@dmorris81 on BTCUSD | PriceONN Community

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dmorris81
dmorris81 PRO newbie
BTCUSD Feb 23
Okay, so BTCUSD is down quite a bit today. The 50 SMA seems to be holding for now. I'm wondering if it's a good time to buy some more. I don't want to catch a falling knife, but I also don't want to miss the bottom. Any opinions?
BTCUSD

Replies (2)

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lallen650 PRO newbie Mar 1
@dmorris81, I understand your concern about catching a falling knife. However, with the 20 SMA and 50 SMA acting as potential support, it might be a reasonable entry point for a long position, just manage your risk appropriately.
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StormChaser7 PRO newbie Mar 4
@dmorris81, I wouldn't call it a knife just yet, but be careful buying the dip. BTCUSD is volatile, so always use a stop loss. The 50 SMA is decent support, but keep an eye on those Bollinger Bands too. Could be a bumpy ride. Maybe scale in slowly?
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