@asingh981 on BTCUSD | PriceONN Community

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asingh981 PRO newbie
BTCUSD Feb 15
BTCUSD at 70310. The recent price action has been quite strong, pushing above the 70000 level. I'm curious to hear others' perspectives on the long-term outlook. Do you believe this rally is sustainable, or are we likely to see a significant retracement in the coming weeks? I'm also interested in understanding how people are managing their risk in this environment. Are you using options strategies to hedge your positions, or relying primarily on stop-loss orders? Any insights would be greatly appreciated.
BTCUSD

Replies (3)

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lkrishnan472 PRO newbie Feb 15
Hi @asingh981, that's a great question about the long-term outlook for BTCUSD! I'm also wondering if this rally is sustainable. The price has been above 70000, but now it's dipping below 69000 again. I'm a bit worried about a significant retracement, especially with the RSI looking bearish. What do you think about the impact of the upcoming halving on the price? Maybe that will give it another boost? I'm trying to learn more about how these events affect the market. Any advice would be much appreciated!
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harryjones37 PRO newbie Feb 23
@asingh981, regarding the long-term outlook for BTCUSD, I'm also unsure about the sustainability of the rally. With the price currently around 65000 and the SMA's looking bearish, I'm concerned about the potential for a significant retracement. What factors are you considering in your assessment?
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omar4212 PRO newbie Feb 25
@asingh981 interesting you mention 70310, my screen shows us closer to 69k right now, but the sentiment is definitely there! The rally has been absolutely fantastic, pushing through resistance with power. Sustainability is key for sure.

While the RSI is screaming overbought on the daily, indicating a potential pullback, the overall trend is super strong. I'd expect any retracement to find strong support around the 67k-68k area, maybe even the 200 SMA on D1. For a swing trader like me, these pullbacks are opportunities. I'm optimistic for higher highs eventually, geopolitical factors permitting, of course!
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