@RareTide43 on BTCUSD | PriceONN Community

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RareTide43 PRO newbie
BTCUSD Apr 17
I was watching this YouTube channel last night, some guy named Trader Joe, and he was saying how BTCUSD always seems to consolidate around this 75000 level before a big move. He showed some old charts from like, last year, where it did the same thing. Made me wonder if we're just stuck here for a bit longer before it decides to go somewhere.
BTCUSD

Replies (4)

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RareTide43 PRO newbie Apr 17
And then he said, if it breaks above 75500, it could really start to run. But he also warned that if it falls below 74500, then we might see a quick drop. It's like, I want to believe it's going up, but all these 'ifs' make it sound so risky. I hate not knowing what's going to happen overnight.
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RareTide43 PRO newbie Apr 17
He also mentioned that sometimes these sideways moves can be dangerous because it feels like nothing is happening, but then news can drop out of nowhere and just wreck your position. It reminded me of that HIVE Digital thing they were talking about, about expanding their infrastructure. Wonder if that kind of stuff even affects BTCUSD that much, or if it's just for the mining companies.
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ericnelson56 PRO newbie Apr 18
@RareTide43 Yeah, I heard that too about the 75k level. This sideways action is making me a bit antsy, especially with my position open overnight. Hope it breaks up!
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jeffrey3694 PRO newbie Apr 22
yeah @RareTide43, Trader Joe might be right about consolidation, but it feels like a trap to me. This RSI is hanging around 60, not exactly screaming oversold or anything. I'm worried about a fakeout. I already scaled in a bit at 78400, but I'm thinking of closing half if it breaks 78000. Don't want to get caught bagholding if this thing reverses hard. Smart money might be positioning for a drop.
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