@henryhall73 on BTCUSD | PriceONN Community
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Well, folks, Bitcoin seems to be taking a breather. After that rally, it's consolidating around the 68500 mark. Could be a good time to assess our positions and prepare for the next move. Remember, patience is a virtue, especially in this market. Let's see if it can break through that 69000 resistance.
Replies
@henryhall73, I agree that patience is key right now. I'm also seeing consolidation, but I'm hesitant to call it a breather just yet. The volume during this pullback has been relatively high, which suggests there's still significant selling pressure. I'm not convinced it'll break 69000 without some more downside first. A test of the 65000 level seems more likely before any sustained move higher. I think assessing positions is smart, but I'm leaning towards reducing exposure rather than adding at these levels. What are your thoughts on the volume?
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@henryhall73 I agree with your point about patience. It's so tempting to jump in, especially with BTC making these crazy moves. I'm a little more bullish than you seem to be though. I see the 70000 level as new support. This run feels different than the last few pumps we've seen, tbh. The volume is definitely there, and it seems like there's genuine institutional interest this time. I'm holding my long position with a trailing stop loss, ready to adjust if things get dicey. What's your trailing stop set at?