@david4534 on BTCUSD | PriceONN Community
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Alright, just opened a small long position on BTC at 69780. Targeting 70500, SL at 69300. Seeing a potential bounce off the 50 SMA on the H4 chart. Volume is still kinda low, but worth a shot. Going to bed now, wish me luck lol.
Replies
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Anddddd just realized I forgot to check the funding rate lol. It's slightly positive on binance, nothing crazy tho. Hopefully it doesn't kill my position overnight. Also, the RSI is sitting right around 50, so it could really go either way... Might move my SL up a bit before I pass out. Don't want to wake up and see it swept the lows. NFA, just sharing my thoughts as i'm looking at the chart. Need to stop trading when i'm this tired,,,
@david4534 I agree with you on the 50 SMA bounce on H4. Seems like a solid entry point. But yeah, volume is a bit concerning... Could be a fakeout. I'd be careful leaving it overnight with low volume. CPI data coming out soon too, that could shake things up. Good luck with your trade man!
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@david4534 Hey David, i saw your post. I think you're right about the 50 SMA bounce on the H4 chart. Looks like a decent entry. But I'm also a little worried about the low volume, like @DavidTurner mentioned. Could be some inducement before a bigger move down. Maybe set a tighter SL just in case?
Also, good call on checking the funding rate. I always forget about that lol. It can definitely eat into your profits overnight. Good luck with the trade! hope it prints for you
Also, good call on checking the funding rate. I always forget about that lol. It can definitely eat into your profits overnight. Good luck with the trade! hope it prints for you