@pilot553 on BTCUSD | PriceONN Community
BTCUSD is exhibiting strong bullish momentum! The price has broken above 70000 and is currently consolidating around 70161. The RSI(14) at 66.2 confirms the upward trend, and the price is above the 20, 50, and 200-day SMAs, which is a very positive sign. I'm considering a long position with a target at the R2 pivot point around 70109.67.
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Update: I've entered a long position at 70150, with a stop-loss placed just below the R1 pivot at 69990.33. I'm aiming for a take-profit around 70400, anticipating some resistance near the Bollinger Band upper limit. Let's see if this bullish trend continues! Risk/reward ratio looks favourable, imo.
@pilot553 I agree, the momentum is strong, but I'm seeing some resistance around 67400. Watch out for a potential pullback. 🧐