@ArjunN12 on BTCUSD | PriceONN Community
A
BTC is on a tear! Feels like everyone's FOMOing in right now. I'm already in a long position, so I'm just enjoying the ride. Gotta be careful though, these pumps can be followed by some nasty dumps. Keeping a close eye on the charts!
Replies
D
@ArjunN12 I agree, Arjun. FOMO is definitely a factor right now. But the RSI is still below 50, so a pullback is possible. I'm also in a long position, but I've tightened my stop-loss just in case. These parabolic moves are never sustainable in the long run. A healthy correction would actually be beneficial for a more sustained uptrend. Better to be safe than sorry. Agree on keeping a close watch on the charts.
Hey @ArjunN12, I feel the FOMO too! It's so tempting to jump in, but I'm also worried about a big drop. What's your stop-loss looking like?
R
@ArjunN12 I agree with your sentiment. The current pump is impressive, but caution is definitely warranted. I'm watching the 69000-69200 area closely as a potential resistance zone given it's near R2 and the upper Bollinger band. A strong rejection there could signal a short-term pullback before further upside.
L
Hey @ArjunN12, totally get the FOMO vibe right now, it's strong. Good call on watching for dumps though, especially with RSI getting a bit stretched on shorter TFs. For swing trades, I'd be looking at potential retests of the 50-SMA around 65.8k if it does pull back. Stay safe out there!