@ryan4863 on BTCUSD | PriceONN Community

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Watching this BTCUSD price action closely. The way it's been rejected around the 67k mark suggests a potential bear trap might be forming. If we see a strong push back above the 20 SMA soon, that could signal a reversal, but I'm cautious about chasing it without confirmation. Bears might be getting too comfortable here.
BTCUSD

Replies (2)

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oscarmurphy63 PRO newbie Apr 6
Hi @ryan4863, I'm also keeping an eye on that 67k rejection. The way BTCUSD is holding above the 20 SMA and the R1 pivot suggests some underlying strength. However, I'm not convinced enough for a full long entry yet, still waiting for more confirmation from volume.
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harryhall53 PRO newbie Apr 6
Hey @ryan4863, I agree there's some chop around 67k. But this move above the 20 SMA and R1 pivot feels more solid than a bear trap to me. Might be seeing some smart money stepping in. Still watching though.
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