@sabubakar333 on BTCUSD | PriceONN Community
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Man, these BTCUSD charts are confusing me today. The price action looks bullish, breaking above the 200 SMA, but then I see the Bollinger Bands are starting to widen a bit and the price is hitting the upper band. Feels like it could go either way from here, not sure if I should be looking for longs or preparing for a pullback.
Replies
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Hey @sabubakar333, I hear you on the confusion. It's true, price is challenging the upper Bollinger band, and that's often a sign of potential pullback or at least a pause. But also look at the overall trend – we're well above the 20 and 50 SMAs now, which have flipped bullish. If we can hold above the daily pivot point around 77500, I think we'll see a push towards R1 at 77900.
Hey @sabubakar333, I totally get what you're saying about the charts looking confusing. One minute it seems like it's going to the moon, the next it's dropping faster than my coffee mug hits the floor. You mentioned the Bollinger Bands widening and hitting the upper band, is that usually a bad sign? Like, does it mean it's gonna crash? I'm still learning, but I just see red candles and my stomach drops. Trying to figure out if I should even be looking at this thing right now.