@RogueWave12 on BTCUSD | PriceONN Community
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Good morning, everyone! Just checking in on BTC after the night. Seeing a bit of a dip below 69300. Be careful, this could be a bear trap before another leg up. Keeping an eye on the 200 SMA around 69270 as a potential support level. Let's see if it holds!
Replies
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@RogueWave12 I like the 200 SMA level you're watching. Could be a decent bounce area. But with the market so jittery, I'm not holding my breath. Need some displacement to convince me.
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@RogueWave12 Yeah, that 200 SMA is a classic level to watch. I'm seeing a lot of order flow building around 73200 now, feels like a good spot for a short-term pop.
Hey @RogueWave12, good to see you watching those levels. That 200 SMA is definitely a key area, and I agree it could act as support. However, with the current volatility and the way price action has been lately, I'm a bit hesitant to call it a bull trap just yet. It feels more like it's just consolidating after that recent push up. Seeing some decent volume at the 73200 mark, like @rubystewart76 mentioned, which might give us a short-term pop, but I'm not convinced it's a sustained leg up without some serious displacement. Might be worth waiting for a clear break of the Bollinger bands or a strong bullish candle to confirm any upward move. Always good to be cautious!