@J_Mitchell on BTCUSD | PriceONN Community
Considering the current bullish momentum in BTCUSD, are we potentially looking at a retest of the previous all-time high in the short term? The RSI suggests further upside potential, but I remain cautious given the inherent volatility of this asset. What are other traders' thoughts on risk management at these levels?
Replies
Following up on my earlier post, I've been closely monitoring the Bollinger Bands on the D1 chart. A decisive break above the upper band could signal a strong continuation of the uptrend. Conversely, failure to sustain above 68700 may indicate a temporary pullback towards the 20-day SMA. A conservative approach would be to await confirmation of either scenario before committing significant capital. Furthermore, keep an eye on overall market sentiment and correlation with other cryptocurrencies.