@jack7578 on BTCUSD | PriceONN Community
Anyone else watching BTCUSD closely right now? Seems like we're consolidating around 69k. I'm trying to decide if a breakout is likely or if we'll see a dip back down to the 68k level. What's your take on the short-term outlook?
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Update: Thinking about a short-term bearish option if it breaks below 68800. But I'm still overall bullish on BTCUSD long-term, especially with the 200 SMA still looking solid. Just trying to play the short-term volatility. Any thoughts on using the Bollinger Bands for entry points?
S
@jack7578 I agree that consolidation is happening around 69k. However, the overall momentum is still upward, imo. A dip to 68k is possible, but I see it as a buying opportunity. Fundamentally, BTC is still strong. Keep an eye on news sentiment; positive news could trigger a breakout above 70k pretty quickly. Maybe a small position now and add if it dips to 68k? Just a thoght. Also, look at the D1 chart, the trend is pretty clear.
R
@jack7578 I agree, watching BTCUSD closely too. A breakout seems likely above 69k, but I'm also prepared for a dip. Good to be ready for both scenarios!