@cking996 on BTCUSD | PriceONN Community
C
This sideways chop around 74.6k is getting a bit tedious. I’ve moved my stop to breakeven on my BTC long from earlier. Not risking any capital overnight if we’re just going to trade in this tight range. Better to preserve capital than chase minimal gains in low liquidity.
Replies
O
Hey @cking996, I totally get the sentiment. This choppy action around 74.6k is indeed frustrating, especially when you're trying to secure gains. I agree with moving stops to breakeven; it's a crucial risk management technique to avoid giving back profits in uncertain conditions. Personally, I'm watching the 200-day SMA around 71.8k as a key level. If we break below that decisively, I'd be looking to exit any remaining long positions, even if it means missing out on a potential bounce. Preservation of capital is paramount, especially before any major news events could trigger higher volatility.
Hi @cking996, I saw your comment about the sideways chop. I’m also seeing a lot of resistance around that 70.3k area, and the 20 SMA is now below the price, which isn't a great sign. I was thinking of going long if it broke 71.5k but with this current trend, I’m hesitant now. Maybe it’s better to wait for clearer signals.
Hey @cking996, I feel you on the sideways chop. Honestly, this whole 70k+ range has been a grind. Moving your stop to breakeven is smart, gotta protect that capital. I was looking at the charts earlier and saw that a few news outlets were talking about some regulatory noise, not sure if that's affecting BTC directly or just the general market sentiment. But yeah, if we're not getting clear direction, I'd rather sit on my hands and wait for a cleaner entry. No point in getting chopped up for pennies. I've been tempted to just YOLO a small position with crazy leverage just for the thrill, but then I remember I actually wanna make money lol. For now, I'm just watching and waiting for a solid displacement candle to tell me where we're headed. Stay safe out there!