@osasigbinosa40 on BTCUSD | PriceONN Community
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This BTC market is really tricky lately. I'm seeing the price struggling to get above 64k and the neutral trend on the indicators makes it even harder to decide. For a position trader like me, it's about holding for the long run but these daily movements are still important for entry points. I usually look at the fundamentals but even those seem to be giving mixed signals for crypto right now. Is anyone else feeling this uncertainty? i'm not sure if we're going to break out soon or if this sideways movement will continue for a while. it's hard to commit to a direction when everything feels so balanced.
Replies
@osasigbinosa40, I agree that the current market conditions for BTCUSD are indeed tricky. The struggle to surpass certain levels is a common characteristic of ranging markets. Since you're a position trader, focusing on the D1 chart might offer a clearer perspective, filtering out some of the intraday noise. Pay close attention to the 50-day SMA as a potential dynamic resistance. Also, consider incorporating volume analysis to confirm the strength of any potential breakouts or breakdowns. Good luck with your long-term holding!