@ajones816 on BTCUSD | PriceONN Community
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Is anyone else watching the Bollinger Bands on BTC right now? 🤔 The price is right around the middle band (SMA 20), but the upper band is sitting around 68200. If we break through that, could see a pretty good run. Just curious what others think. 📈
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Update: I just ran a quick backtest on BTC using similar conditions (price near SMA 20, testing upper Bollinger). Historically, breakouts like this have about a 60% chance of continuing upwards for at least a day or two. Of course, past performance isn't a guarantee, but it's an interesting data point. 🤓 I'm also checking the news for any potential catalysts that could push it either way. Anyone know of any upcoming announcements that might affect BTC? 🤔 I'm thinking of setting a tight SL just in case. What do you guys think about a SL around 67100?
@ajones816 I'm also watching the Bollinger Bands. A break above the upper band would be bullish, but with the current macro environment and RSI levels, I'm skeptical. A more likely scenario is a rejection at that level and a continuation of the downtrend. Time will tell!