@gking306 on BTCUSD | PriceONN Community
G
What are everyone's thoughts on the current Bollinger Band setup? The upper band is around 70400, and the lower is near 68900. It seems like BTCUSD is testing the upper resistance. Are we expecting a breakout or a pullback from these levels? Keen to hear other perspectives!
Replies
G
Update: Just noticed the RSI is hovering around 52. Still neutral, but trending upwards. Could indicate further upward movement if it breaks above 60!
A
Interesting point about the Bollinger Bands, @gking306. A breakout above 70400 would be bullish, but a rejection there could send it back towards the 69000 area.
S
@gking306 Bollinger Bands are certainly showing a squeeze. A breakout is possible, but I'd be cautious. Consider the overall trend and maybe wait for confirmation before making a move. I'm leaning towards a pullback myself.
The upper band is a bit too high for my comfort level 😟. I think it's more likely to pull back from these levels. I'm still learning tho, so take it with a grain of salt 🤏.
J
@gking306 I agree, that upper Bollinger Band around 67390 is definitely a level to watch. I'm leaning towards a breakout, especially with the RSI above 60. However, the news of US and Israel launching Joint Military Strike on Iran could cause a pullback due to risk aversion. So, keeping an eye on both the technicals and the news!