@OscarCarter90 on BTCUSD | PriceONN Community
Anyone else think BTCUSD might push to 70k soon? The trend is super strong, and the SMAs are all aligned. What's your take on the short-term outlook? Thinking of adding to my position but want to hear other opinions first!
Replies
Update: Just checked the Bollinger Bands, and it's testing the upper band. Could signal a slight pullback before continuing higher. Keeping a close eye on it!
@OscarCarter90, I agree that the overall trend is still bullish, but I'd exercise caution before adding to your position at these levels. The RSI is approaching oversold territory, suggesting a potential short-term correction. While the SMAs are aligned, the recent price action indicates some weakness. A more prudent approach might be to wait for a confirmed breakout above the 70k resistance level or a retest of the 50-day SMA before increasing your exposure. Always consider your risk tolerance and position size accordingly.
G
@OscarCarter90 I'm with you on the 70k target, Oscar. The SMAs are looking pretty sweet. I'd be cautious about adding too much though, that Iran news could throw a spanner in the works. Maybe a smaller position size to play it safe? Just a thought!