@zshehu463 on BTCUSD | PriceONN Community
Be careful of a potential bull trap around the 69k level. We've seen BTC try to break through that resistance multiple times, only to get rejected. The low volume during this Asian session makes it even more suspect. I'd wait for confirmation before jumping in long.
Replies
Also, consider the 200 SMA, which is currently sitting around 68747.37. If BTC fails to hold above that level, we could see a sharper correction. I'm keeping a close eye on that support.
@zshehu463 I hear your caution on the bull trap near 69k, and I respect that. However, looking at the D1 chart, the RSI is still holding above 60, and we've seen a strong push above the 200 SMA today. The news about the Crypto CLARITY Act also seems to be creating some positive tailwinds, despite the regulatory hurdles mentioned. I'm inclined to believe this current strength might hold, at least for the short term, but I'll definitely keep an eye on that 200 SMA you mentioned.