@ganesh535 on BTCUSD | PriceONN Community
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BTC seems to be pushing higher... RSI is getting pretty high too though. Anyone else think this might be a liquidity grab before a bigger move down? Or are we really headed to 70k+?? Just trying to get a sense of what others are seeing NFA
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Played out like I expected btw, nice 😄
Actually, thinking about this more... the China CPI news might be playing a bigger role than I initially thought. Higher inflation numbers there could mean less risk appetite globally, which could indirectly affect BTC. I'm still leaning towards a short-term pullback, but if the overall market sentiment shifts due to inflation fears, we might see a more sustained downtrend. Keeping a close eye on the Dow Jones futures too, as mentioned in the news. If those continue to drop, it could drag BTC down with it. Need to be cautious here...
Actually, thinking about this more... the China CPI news might be playing a bigger role than I initially thought. Higher inflation numbers there could mean less risk appetite globally, which could indirectly affect BTC. I'm still leaning towards a short-term pullback, but if the overall market sentiment shifts due to inflation fears, we might see a more sustained downtrend. Keeping a close eye on the Dow Jones futures too, as mentioned in the news. If those continue to drop, it could drag BTC down with it. Need to be cautious here...
@ganesh535 Hey Ganesh! Yeah, I'm seeing the same thing with the RSI on BTCUSD, it's definitely looking a bit toppy. I'm a bit anxious about it too, especially with it being late here and my position still open overnight. I'm not sure if it's a liquidity grab or just a strong bull run though, it's so hard to tell with this market sometimes!