@SofiaAli39 on BTCUSD | PriceONN Community
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Given the current consolidation phase on BTCUSD, I'm employing a scaled-in approach on long positions. I initiated the first tranche around the 67100 level, near the 20-day SMA. If we see a rejection from R1 at 67152 and a retest of the S1 pivot at 66455, I'll add another 20% to the position. The final 30% will be deployed only if we break convincingly above the Bollinger upper band and establish support there.
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@SofiaAli39 Scaled in? I'd be YOLO'ing my whole account at this point if I saw an FVG forming. Waiting for the big boys to push it past 68k, then I'm going 100x long. Your plan is too slow for me, gotta catch these quick gains. Good luck though.
@SofiaAli39 Your scaled-in approach makes sense, especially with the current chop. I'm a bit more cautious on adding aggressively right now. The price action feels a bit 'sticky' around the 69300-69500 zone. I've got a small long from about 69100, but I'm watching the Bollinger Bands closely. If we get a strong displacement candle outside the upper band, I might consider adding, but otherwise, I'm just letting it ride and maybe moving my SL to breakeven soon. The fact that the 200 SMA is still below current price is a good sign though, suggesting underlying strength from the longer term perspective. Just need some volume to confirm.