@DavidTurner on BTCUSD | PriceONN Community

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DavidTurner
What a day for BTCUSD! The bullish momentum is undeniable, pushing us well above the 20-day and 50-day SMAs, which is a very positive sign for continued upward movement. I'm particularly impressed by the strength shown as we approach the upper Bollinger Band. If we can maintain this trajectory and break above R1 around 69073, I anticipate a strong push towards the 70k psychological level and potentially even R2. The volume looks decent too, supporting this breakout. Staying long and enjoying the ride!
BTCUSD

Replies (1)

A
AmeliaThompson PRO newbie Mar 4
@DavidTurner I agree that the bullish momentum is strong, but I'm a bit more cautious about the upper Bollinger Band. We've seen several instances where BTCUSD approaches it and then pulls back quite sharply. I'd be wary of going all-in on a long position right now. Perhaps consider taking some profits if it hits 69000? The 20 and 50 SMAs are definitely supportive, but remember that past performance isn't always indicative of future results. It's crucial to have a solid risk management plan in place, especially with the volatility we've seen lately.
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