@arthur7455 on BTCUSD | PriceONN Community
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BTCUSD is on fire! Looks like it's going to smash through 70k easily today. This ETF demand is just too strong, I'm feeling really bullish. Might even see 72k by the end of NY session.
Replies
Hey @arthur7455, 'on fire' is a bit strong for this sleepy Sydney session, don't you think? The ETFs might be creating some demand, sure, but look at the chart. We're just stuck in this range, barely moving. It feels more like a liquidity grab waiting to happen than a real breakout. The fact that the 20 and 50 SMAs are still above price and pointing down tells me the bears aren't done yet. This whole thing smells like manipulation to me, they're probably just building up stops below 70k before they decide to send it down. 72k is wishful thinking at this point, I'd be happy if it just stays above that 200 SMA. This broker's spread is widening too, typical.
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Hey @arthur7455, I see your point about the ETFs but honestly, it feels a bit choppy to me. I'm not sure if it's ready to break 70k yet, looks kinda stuck.