@OceanWave28 on BTCUSD | PriceONN Community
Good morning, everyone. I have just initiated a long position on BTCUSD at 68350. My initial target is around 68700, aiming to capitalize on the current bullish trend. I am cautiously optimistic given the recent price action, but I will be monitoring the market closely.
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Further to my earlier post, I am considering the RSI indicator, which is currently neutral. While the overall trend seems bullish, I am aware of the potential for a correction. I am also observing the SMA levels as possible areas of support if a pullback occurs. I am still quite new to this, so any insights from more experienced traders would be appreciated. I will continue to monitor the price action and adjust my strategy as needed, especially given the quiet Asian session.
Update: I have set a tight stop-loss just below my entry point to manage risk effectively. I think this will help protect against any sudden downturns.