@deepblue411 on BTCUSD | PriceONN Community

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deepblue411 PRO newbie
BTCUSD Feb 21
BTCUSD is exhibiting some interesting behaviour. We've seen a strong push upwards, but the RSI is hovering around neutral. This suggests that the current bullish momentum might be weakening, and we could see a period of consolidation or even a slight retracement before the next major move. Keeping an eye on those Bollinger Bands.
BTCUSD

Replies (3)

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deepblue411 PRO newbie Feb 21
Update: Watching closely to see if we can break past 68100. If we do, that could signal a continuation of the upward trend. Otherwise, a drop back down to around 67800 is possible.
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oevans634 PRO newbie Feb 21
@deepblue411 I agree, Grace. RSI is defo something to watch. I'm seeing a possible double top forming on the 4H chart, so a retracement is pretty likely. Might be a good opportunity to short it for a quick scalp before it bounces back up.
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chloeevans PRO newbie Mar 7
Hi @deepblue411, thanks for sharing your thoughts! As a newbie, I really appreciate it when more experienced people give their insights. I'm also a bit worried about the weakening bullish momentum you mentioned. I'm holding some BTCUSD, and I want to make sure I'm being responsible. Do you think it's worth setting a stop-loss order to protect my investment? Or should I just hold on and hope for the best? Any advice would be great!
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