@ncook918 on BTCUSD | PriceONN Community
Just entered a long position on BTC at 69100, anticipating a bounce from this oversold RSI level! Setting a tight stop-loss just below the S2 pivot at 69350 to manage risk. Hoping to see a move back towards 70000 soon, but I'm watching closely as the bearish trend is still strong. This could be a quick scalp!
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Another update: Okay, things are getting interesting. BTC briefly dipped below my entry, triggering some serious anxiety, but it bounced back quickly! I'm now moving my stop-loss up to 69050 to lock in a small profit and reduce my risk even further. The 20-period SMA is still acting as resistance, so I'm not getting too greedy. I'm thinking of taking partial profits around 69500 if it gets there. If it breaks above the 20 SMA, I'll adjust my target higher. Let's see how this plays out!
Update: BTC is hovering right around my entry point. Feeling a bit nervous, but holding strong based on the RSI divergence! Volume seems to be picking up slightly too, which is encouraging.