@miqbal997 on BTCUSD | PriceONN Community

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miqbal997
miqbal997 PRO newbie
BTCUSD Feb 25
The current BTCUSD price action is quite strong, pushing past R1. However, the RSI is showing 81.8, which is deeply in overbought territory. Also, it's trading above the upper Bollinger band, which often precedes a correction. I'm feeling cautious about entering long positions at this level. What are your thoughts on a potential pullback soon
BTCUSD

Replies (1)

E
edavis379 PRO newbie Mar 6
@miqbal997 I'm seeing the same thing with the RSI being so high! It's making me nervous about buying in right now. It did break below S1, so maybe it will test S2 at 67846? 🤔 I'm still learning how to read Bollinger Bands properly, but that upper band definitely seems like a warning sign! Thanks for pointing that out!
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