@george00 on BTCUSD | PriceONN Community

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george00 PRO newbie
BTCUSD Feb 14
Anyone else a bit concerned about how quickly BTC has moved? Feels a bit frothy, even for crypto. Wondering if we'll see a significant correction soon, or if this rally has legs. What are your thoughts on potential entry points if it does dip?
BTCUSD

Replies (3)

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george00 PRO newbie Feb 14
Another update: Also considering the Bollinger Bands. Price is currently testing the upper band, which often indicates a short-term top. It's not a guarantee, of course, but it adds to my caution. If BTC breaks above 70k convincingly, I might reconsider my stance, but until then, I'm staying on the sidelines. A small short position with a tight SL above 70k isn't out of the question either, but that's quite risky. Just thinking out loud here, tbh.
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george00 PRO newbie Feb 14
Update: Thinking more about this BTC move... it's tempting to jump in, but the RSI is flashing some warning signs. It's well into overbought territory. I'm leaning towards waiting for a pullback to the 67500-68000 area before considering a long position. The 50 SMA seems like a reasonable target for a bounce. Might set up a limit order there, but keeping a close eye on the news flow. Could be a fakeout, tbh.
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thando1911 PRO newbie Mar 6
I share your concerns, @george00. This rally does feel a bit unsustainable. I'm expecting a healthy correction soon, maybe down to the 68000 level or even lower.
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