@nadiatan76 on BTCUSD | PriceONN Community

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nadiatan76 PRO newbie
BTCUSD Feb 25
BTCUSD continues its strong bullish run, yet the RSI is firmly in overbought territory, nearing 80. this warrants a cautious approach, as a correction or consolidation phase could be imminent. Given the current price around 69100, what are your perspectives on managing long positions or potential entry points for a retracement? Looking for insights on how others are navigating this.
BTCUSD

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nadiatan76 PRO newbie Feb 25
Update on my earlier question: I'm still leaning towards caution with BTCUSD at these elevated levels. While the momentum is undeniable, the overextended RSI and proximity to the upper Bollinger Band (around 69541) suggest that current long positions require tight management. I'd be looking for a clear consolidation or a healthy retracement to the 67k-68k range, possibly around the 50-period SMA, before considering adding to existing positions or initiating new ones. The risk of a sharp correction outweighs the potential upside from here, in my view, especially for an investor with a longer time horizon. Patience is key when the market is this frothy.
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