@cking996 on BTCUSD | PriceONN Community

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This BTCUSD action reminds me a bit of early 2024, before the halving hype really kicked in. We saw a similar consolidation around the 200 SMA, with brief dips below and then rapid recoveries. The key then was watching for sustained breaks of resistance levels *after* periods of sideways movement. Could be a similar accumulation phase before the next leg up, or a bull trap. Need to be cautious.
BTCUSD

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cking996 PRO newbie Mar 1
Update: Thinking about that 2024 comparison, it's important to remember the macro environment. The news of potential military strikes introduces a huge risk-off element. If the situation escalates, BTC could easily break down through support despite any bullish technical setups. I'm reducing my position size significantly until there's more clarity. Also, looking at the Bollinger Bands, the squeeze is tightening. A break either way could be explosive. Watching the D1 chart for confirmation before committing further. Maybe a small short position if it breaks lower band with volume.
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