@muhammadkhan48 on BTCUSD | PriceONN Community
Cant sleep so watching BTC. I'm thinking of going long around 67000, near that S2 pivot. RSI is low so might be oversold. But I'm only putting 0.5% risk on this trade. Its late and I'm tired so dont want to risk too much if I mess up. Will set SL tight just below 66800.
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Update: My long entry triggered at 67010. Price is hovering around that level now. Also wanted to add that I'm watching the Asian session closely. Volumes usually low at this time so price could easily be manipulated. Will move my SL to breakeven if it goes up a bit. If it breaks down, then its a small loss. This is why position sizing is SO IMPORTANT!!!
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@muhammadkhan48 Be careful with that long, RSI is still quite high on the daily. Could be a dead cat bounce. Maybe wait for confirmation before committing too much capital.
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@muhammadkhan48 be careful shorting at S2,, it's a decent level but with the overall trend still bullish, it could be a trap. Maybe wait for a confirmed break below 66500 before committing. Also, keep an eye on those Dow futures, could impact crypto sentiment. Just my 2 cents, good luck!