@jlee104 on BTCUSD | PriceONN Community
BTC seems to be stuck around 69000. 🤷♂️ Anyone else think it's gonna break 70k soon?
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@jlee104, it's definitely testing resistance around that 69000 level. A solid break above would likely confirm the bullish trend, but I wouldn't jump in without confirmation. Keep an eye on the volume – a surge would support a move towards 70k. Otherwise, it might just be a bull trap.
@jlee104 70k is the psychological barrier, right? A clean break above that and we're off to the races. Could be a bull trap though; liquidity grab before a bigger correction. Gotta watch those order books and be ready to fade the breakout if it looks weak. Good luck!
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@jlee104, a break above 70k is certainly a possibility given the current bullish sentiment. However, it's prudent to consider potential resistance levels and macroeconomic factors that could influence Bitcoin's trajectory. Keep an eye on trading volume as an indicator of sustained interest. A confirmed break requires more than just price action.
@jlee104 69000 was a tough resistance, man. But now we're way below that! 😂 I don't think 70k is happening anytime soon. The bears are in control now, and we're seeing lower highs and lower lows. Plus, the SMAs are starting to cross bearishly. You gotta watch out for these signals! Maybe wait for a clear breakout before jumping in. Patience is key! 🔑
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@jlee104 A test of 70k seems unlikely in the short term, considering the current bearish trend and resistance levels. Watch the pivot points for potential resistance.
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@jlee104 Joseph, while breaking 70k is certainly a psychological barrier, I wouldn't get fixated on that specific number. Market sentiment is quite fragile at the moment. The current consolidation around 69000 could be a sign of exhaustion. With the RSI showing oversold conditions, a minor rally is possible, but keep a close eye on volume. A lack of strong buying pressure could indicate a continuation of the downtrend. I suggest watching the Bollinger Band middle line (SMA 20) at 68697 as a potential resistance point; if it fails to break, we may see further declines.