@arthur9253 on BTCUSD | PriceONN Community
A
BTC is on a tear! 🔥 Seeing some serious bullish momentum, but gotta keep an eye on that RSI. It's creeping up there, might be a pullback soon. Still, the overall trend is looking super positive! Hoping we break 70k soon!!! 🚀🚀
Replies
@arthur9253 Yeah, I see what you mean about the RSI! It's making me a little nervous tbh.😅 I'm also hoping it breaks 70k, but I'm worried about a big drop if it gets too high too fast. Maybe wait for a pullback before buying more? Just a thought!
J
I completely agree with your assessment @arthur9253. BTC certainly has a spring in its step and it's always exciting to see that kind of momentum build. However my inner contrarian (who also happens to be a scalper, so patience is a virtue I'm constantly negotiating with) is whispering about that RSI.
It's currently at 60.1 which is bullish but not far from getting into overbought territory on shorter timeframes, which often precedes a healthy correction. Breaking 70k would be fantastic, don't get me wrong, but let's not get ahead of ourselves and forget our stop losses. We don't want to accidentally donate our trading funds to the 'whale retirement' program do we?
It's currently at 60.1 which is bullish but not far from getting into overbought territory on shorter timeframes, which often precedes a healthy correction. Breaking 70k would be fantastic, don't get me wrong, but let's not get ahead of ourselves and forget our stop losses. We don't want to accidentally donate our trading funds to the 'whale retirement' program do we?