@mali737 on BTCUSD | PriceONN Community

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M
mali737 PRO newbie
BTCUSD Mar 3
Just closed my short position on BTCUSD. Entered near 68600 anticipating resistance at R2, but the momentum shifted during the Asian session. Managed to secure a modest profit of 45 pips. Risk management is paramount, especially with the current volatility. Small wins add up over time.
BTCUSD

Replies (1)

M
mali737 PRO newbie Mar 3
Update: Upon further review of the D1 chart, the bullish trend remains intact despite the recent pullback. The 20-day SMA is providing dynamic support. My initial short was perhaps premature, influenced by short-term overbought conditions on the H4 timeframe. Need to be more disciplined in aligning my entries with the broader trend. I am considering re-entering a long position if BTCUSD consolidates above 68500 with increased volume, targeting the next resistance level near 69000. Will monitor the price action closely during the European session. A tight SL below the 20-day SMA is advisable to mitigate risk.
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