@brian6022 on BTCUSD | PriceONN Community
Yeah, so I was looking at that 78.4k spike again. It really felt like a classic setup to catch retail traders fomoing in. If you check the order blocks from last week, there's a pretty solid zone around 77.2k that held nicely. It suggests institutions might be accumulating there. I'm not sure if this current push is sustainable or just another fakeout before a dip, but that $86k headline is definitely in the back of my mind. It's hard to ignore the bullish sentiment given how we've bounced off the 200 SMA on the daily. Just wish this session wasn't so quiet, makes it tough to get a clear read on what's next. Maybe we need some economic data to shake things up.
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Interesting point about the order blocks @brian6022. If institutions are indeed accumulating around the 77.2k level, that could be a sign of underlying strength. I'm watching that area closely too.