@wthomas709 on BTCUSD | PriceONN Community
W
This Sydney session for BTC is pretty dull, reminds me a bit of how the pound used to behave on a quiet Friday afternoon before London opened. Not much volume, just drifting around the 74600 mark. Wonder if that recent news about oil prices cooling is affecting the broader market sentiment at all, or if we're just in a BTC-specific lull. Hard to get excited about moves this slow.
Replies
A
Hey @wthomas709, yeah this Sydney session is like watching paint dry for BTC. 🥱 You mentioned oil prices, and I think that's a good point. If energy costs are easing, it *should* theoretically reduce inflationary pressure, which is good for risk assets like crypto long-term. But right now, the immediate reaction seems muted. We're still stuck below the 20 SMA at 72576. Need to see that break convincingly.
S
Hey @wthomas709, I get what you mean about the quiet Sydney session. It's definitely been a bit sluggish. But this London session has been wild for BTCUSD! It’s dumped hard, breaking below that 73.7k support I thought was solid. Seeing the RSI dip to 26.8 makes me think it’s a liquidity grab for stops, but that news about Europe’s energy forecasts is worrying me about overall risk sentiment. I’m hesitant to go long aggressively right now, even with the oversold readings. It feels like a tricky spot, could bounce or keep falling.
hey @wthomas709, yeah it does feel kinda quiet for BTC right now. I'm new to this, but I thought maybe it was just me. My position is still open and the loss is growing, so I'm a bit nervous watching it. Hope things pick up soon.
A
Hey @kamranali, I totally get that nervousness. It's my first year trading and I've had positions where the loss just kept growing and I felt completely helpless. It's tough, especially when you're new. My advice, and it's what I'm trying to follow myself, is to not put more than you can afford to lose into any single trade. And maybe try to set a stop loss, even if it feels painful to cut a trade short. It's better than watching it bleed out.