@ArchieCollins on BTCUSD | PriceONN Community

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ArchieCollins PRO newbie
BTCUSD Feb 21
BTC is looking pretty bullish right now! The price is above all the key SMAs (20, 50, 200), and the RSI is showing good momentum. Could be a good opportunity for a long position if it holds above 68500. What do you guys think? I'm feeling pretty optimistic!
BTCUSD

Replies (2)

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ArchieCollins PRO newbie Feb 21
Okay, just to add to my earlier comment, I'm thinking of setting my TP around 69500. It's a key resistance level according to the pivot points (R1 is at 68604.67 but R2 is much higher). My SL will be pretty tight, around 68300 to protect my profits. I think we'll see a bit of volatility around 69k, so I don't want to get caught in a fakeout. Plus, the Bollinger Bands are widening, which usually means a big move is coming. I'm keeping an eye on the H4 chart too, to confirm the trend. Anyone else trading this?
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sreddy719 PRO newbie Feb 23
@ArchieCollins While the SMAs are bullish, I'm not convinced just yet. Volume needs to pick up to support that move above 68500. Otherwise, it might be a fakeout 🤷‍♂️.
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