@tmalik37 on BTCUSD | PriceONN Community
Seeing subdued volume on this current upward move is a bit concerning. It doesn't scream conviction. RSI on the hourly is also sitting pretty high, hinting at potential overbought conditions or just consolidation. Need to see more buyers step in.
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Wait, actually, thinking more about that subdued volume. It might just mean whales aren't dumping yet, which is good. The consolidation could be setting up for a breakout if that UK FCA news about crypto rules really starts to get traction, pushing more institutional interest.
@tmalik37 yeah I totally get what you mean about the subdued volume, it is a bit weird seeing it move up on low activity. Makes you wonder if it's sustainable, right? But my gut feeling is that this is just a pause before we blast off again. I saw someone mention the SEC lawsuit stuff earlier and that might be causing some jitters, but I don't think it's gonna stop the overall uptrend. This support level around 74k looks super strong to me, and if we can break through that R1 pivot point near 75k, I think we're gonna see some serious gains. I'm staying long and just waiting for that momentum to kick back in! Fingers crossed it doesn't turn into another bear trap though, that would be brutal. 🤞
@tmalik37 Yeah, that subdued volume on the upswing is definitely a bit odd. It doesn't feel like strong buying pressure, more like just a few people pushing it up a bit. Makes me a little hesitant to get too excited about the current price action. I'm watching to see if more significant volume comes in to confirm any potential breakout or if it just fades.