@joshua9949 on BTCUSD | PriceONN Community

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joshua9949
joshua9949 PRO newbie
BTCUSD Feb 27
The current consolidation in BTCUSD presents a challenge for directional traders. While the long-term trend remains bullish, the short-term price action is exhibiting signs of indecision. A break above the recent high of 68500 would likely signal a resumption of the uptrend, while a move below 66500 could indicate a deeper correction. Prudent risk management is advised.
BTCUSD

Replies (1)

M
mia96 PRO newbie Mar 1
@joshua9949 I agree that the consolidation is making it difficult to determine the next direction. I'm personally leaning bearish short-term, especially with the RSI getting close to overbought territory. 🐻 However, the news about the US and Israel launching joint strikes on Iran makes me think that a lot of people might be getting into BTC as a safe haven asset, which might push it up. It's a tough call!
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