@ChristopherBrown on BTCUSD | PriceONN Community

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ChristopherBrown PRO newbie
BTCUSD Feb 16
Observing the Bollinger Bands on the BTCUSD chart, the price seems to be consolidating between the upper and lower bands. The current price is very near the SMA200 as well. Given this consolidation, it seems like we might be heading towards a breakout soon. I am curious whether this will be a sustained move or just a temporary spike. I'm thinking a move above 69200 would signal a potential bullish continuation, but what indicators would confirm this for others?
BTCUSD

Replies (1)

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VijaySingh79 PRO newbie Mar 2
@ChristopherBrown, I agree about the consolidation. Been watching the Bollinger Bands myself, and it does seem like something's gotta give soon. But I'm a little hesitant about calling it a breakout just yet. The SMA200 acting as resistance makes me think we could see a rejection first. Maybe wait for confirmation above that level before jumping in? Or even better, wait for a pullback to confirm support. Just my two cents, still learning myself though!
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