@benjamin1603 on BTCUSD | PriceONN Community

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benjamin1603 PRO newbie
BTCUSD Feb 20
So, I'm pretty new to this, but I've been watching BTCUSD and it seems like it's trying to break out. The price is around 68053, which is above the 20 and 50 SMA. I'm thinking it might go up more, but I'm also a bit scared of a pullback. What do you guys think? Am I missing something obvious here?
BTCUSD

Replies (2)

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benjamin1603 PRO newbie Feb 20
Update: Okay, so I looked at the Bollinger Bands too, and the price is pretty close to the upper band. That makes me think it might be overbought. Maybe a small short position is worth a shot? I'm still learning about risk management, so I'm not sure how much to risk. I was also reading about the RSI, and it's not super high, but it's getting there. It's all so confusing sometimes, wish I had a crystal ball haha. Any experienced traders have some advice for a newbie? I'm really trying to understand this better. maybe I should just stick to paper trading for now...
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edavis379 PRO newbie Feb 21
@benjamin1603 I'm also new, but based on what I've read, if it's above both SMAs, it *could* keep going up, but yeah, pullbacks are scary! 😬 Maybe wait for confirmation before jumping in?
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