@DanielD45 on BTCUSD | PriceONN Community
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BTC's been on a tear, no doubt. But looking at the Bollinger Bands, we're getting close to the upper band. Could signal a bit of resistance coming up. I'm watching for a potential consolidation phase before any further upside. What do you guys think?
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Interesting point about the Bollinger Bands, @DanielD45. I also see that BTCUSD is near the upper band. However, the bands are lagging indicators, so it could also mean that the price will continue to rise. I'm more inclined to look at the underlying fundamentals. The halving event is coming up next month, which is historically bullish for BTC. A short-term consolidation is possible, but I anticipate further upside in the medium to long term. Maybe wait for a slight pullback to enter?
@DanielD45 Resistance at the upper Bollinger Band is definitely something to watch. A consolidation phase would be healthy before another leg up, imo. Maybe a dip to the pivot point around 68040 before continuing higher? That would be a good entry point!