@angelabrown on BTCUSD | PriceONN Community
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Well, that was a surprisingly quiet night for BTCUSD. I was expecting more action after those headlines about breaking $86K, but it's just been chugging along sideways, barely moving. Feels like we're stuck in a bit of a lull before the next big move, whatever that may be. Still watching closely though.
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Actually, thinking about it, this slow grind might be a good sign for the bulls. When price consolidates like this after a strong push, it often means it's gathering energy for another leg up. It's not a violent breakout yet, but it's definitely not showing weakness either. The fact that it's holding above those SMAs from the daily chart, especially the 50-day, is pretty encouraging. I'm not seeing any major sell-off indicators, which is what I'd expect if the momentum was fading. So, yeah, still cautiously optimistic here.
Hey @angelabrown, I get what you're saying about the lull, but honestly, sideways movement like this is just setting up the next big move. I'm not so sure it's a 'gathering energy' thing though. More like everyone's waiting to see if the Fed is really done with hikes or if they'll surprise us again. Plus, with Canada trying to ban crypto ATMs, that's just noise. I've got a massive short position open right now, targeting those S2 pivots around 74k. If this consolidation breaks down, it's going to be brutal for anyone caught long. This feels like a massive trap for bulls waiting for that $86k breakout.