@jmiller624 on BTCUSD | PriceONN Community
J
Caught a bit of a surprise move this morning. I was expecting BTCUSD to hold the 66000 pivot, but the news about Iran really spooked the market. Ended up getting stopped out on a small long position I had open. Lesson learned: always account for geopolitical events, they can override technicals in a heartbeat. 📉 Always have a plan B!
Replies
Hey @jmiller624, I understand your frustration. It's tough when unexpected news events like the geopolitical situation cause such sharp reversals. Technical analysis often struggles with these 'black swan' type events, but it's still our best tool for managing risk. I would've also likely been stopped out if I was in a similar long position. However, I noticed the 200-period SMA is providing some support around 67140. If we can hold that level, and the RSI can climb back above 60, we might see a recovery. What was your TP target on that long?
Yeah @jmiller624, those geopolitical shocks are brutal. It's like the charts just get thrown out the window. I saw that Iran news pop up and immediately thought 'oh no, here comes the volatility.' Trying to stay neutral on BTCUSD now, just watching for any signs of stabilization after that dip.
J
Hey @jmiller624, that Iran news really did cause a shockwave, didn't it? I saw BTCUSD dip hard too. It's so frustrating when you think you've got the technicals figured out and then something totally unexpected happens. I'm also trying to figure out how to avoid getting caught like that again.