@msmith419 on BTCUSD | PriceONN Community
This reminds me of back in '22, when everyone was screaming about BTC hitting 100k. We had a similar run-up, then a nasty correction. Are we setting up for another big drop? I'm not saying it's guaranteed, but the current price action has me nervous. Gonna watch closely the next few days.
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Another thing I noticed is the volume seems kinda low for this price level. Usually, when BTC is making big moves, the volume is crazy high. The low volume makes me think this rally might be weak. Maybe a bull trap? Just my 2 cents, I could be totally wrong lol.
Update: Looking at the RSI, it's still bearish, but not oversold yet. That could mean we have more room to fall. I'm thinking about opening a small short position if it breaks below 70500, just to test the waters. SL would be tight, around 71000. I'm still learning, so any advice is welcome. I am still pretty new to this. Also, what do you guys thnk about the halving impact? @isabellafernandez65 mentioned it, and tbh I'm not sure if it's priced in or not. Could be a catalyst for a pump or dump, who knows?