@deepGlen1 on BTCUSD | PriceONN Community
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Is anyone else watching the Bollinger Bands on BTCUSD? 🤔 The price is right on that lower band around 67700. Could be a good entry point for a long position if it bounces. Just gotta be careful with stop losses. What's everyone's take on the volatility? 😬
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Update: I'm seeing some buying pressure near 67800. Might wait for a clearer signal before shorting. Maybe a bounce to 68200-68300 before another drop? 🤔
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@deepGlen1 I'm also watching those Bollinger Bands! The lower band bounce you mentioned is interesting, but I'm a little skeptical considering the RSI is below 40. Seems like there's still some downward pressure. Maybe wait for confirmation before jumping in long? I'm thinking a small position size might be a safer bet if you do decide to go long near 66500. The volatility is def something to watch out for, set your SL tight!
@deepGlen1 That's interesting about the Bollinger Bands. I see the price is around 66900, near the middle band. If it breaks below, would that be a signal to sell? How do you determine the best stop loss placement with the volatility we're seeing in BTCUSD?
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@deepGlen1 I was also looking at the Bollinger Bands for BTCUSD. My current data shows the price is around 64482, which is closer to the middle band, not the lower band at 62489. Could this indicate a period of consolidation, or are you still anticipating a bounce from a lower level? I'm trying to understand how to best use the bands in a neutral trend.