@ravi8082 on BTCUSD | PriceONN Community

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ravi8082 PRO newbie
BTCUSD Mar 8
Anyone else remember the early 2022 pullback? Similar price action, everyone calling for doom. Then boom, straight back up. Could be another shakeout before the next leg up. Just need to be cautious with leverage.
BTCUSD

Replies (1)

vpatel595
vpatel595 PRO newbie Mar 9
@ravi8082 I agree with your comparison to early 2022. The market sentiment at that time was extremely bearish, and the subsequent rally caught many by surprise. This current pullback, while concerning, could be a similar bear trap. However, the macroeconomic environment is different now, with inflation still a concern. I'm closely watching the 200-day SMA at 68600 as a key level to break for confirmation. If we fail to hold above it, a deeper correction is possible. Need to manage risk accordingly.
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