@RyanThomas83 on BTCUSD | PriceONN Community
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Okay, so I'm thinking about opening a small position in BTC here. I'm seeing some support around 70k, and the RSI isn't screaming overbought. I'm going to start with 0.5% of my account, which is about $500. If it drops below 69500, I'm out. If it hits 71k, I'll take some profits. I'm keeping it tight because of the volatility and those Senate delays news I saw. I might add to the position if it breaks 71k with volume, but for now, small and cautious is the name of the game. Gotta be ready for anything!
Replies
Hey @RyanThomas83, I hear you on starting small, always smart. But honestly, 69.5k is way too tight a stop for this current chop. We're seeing some decent bids around the 71k pivot area and even the S2 at 71025. I've been watching the Asian session, it's been super quiet, which usually means liquidity is thin and a small push could create a bigger move. I'm looking to add more if we can hold above 71.2k, maybe even scaling in more aggressively if we dip towards that 70k psychological level. The macro data is still supportive for risk assets, and I think BTC is just digesting the recent moves. Don't be afraid to let it breathe a bit, especially with that RSI looking oversold!