@ncook918 on BTCUSD | PriceONN Community
Analyzing BTCUSD, the RSI at 53 suggests a neutral bias, but I'm paying closer attention to the Bollinger Bands. The price is currently testing the upper band around 68333. A sustained break above this level could signal a strong bullish continuation, potentially targeting the psychological level of 70000. However, failure to break through could lead to a retest of the 20-day SMA at 67703. I'll be monitoring the volume closely during this period to gauge the strength of any potential breakout or breakdown. It's crucial to remain flexible and adjust strategies based on confirmed price action. Anyone else seeing similar patterns?
Replies
@ncook918 I'm also watching those Bollinger Bands. A break above the upper band is a strong signal, but I'd want to see confirmation on the H4 chart before committing to a long position. The psychological level of 70000 could act as a strong magnet.