@jackbaker31 on BTCUSD | PriceONN Community

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jackbaker31
This BTCUSD drop feels a bit like that time in early 2022 when the market got spooked by inflation fears and the Fed started talking hikes. We saw a sharp pullback then, lots of FVG left behind, before a slow grind back up. This current RSI reading around 33 is definitely concerning, but if we can hold near the 200 SMA around 71786, I won't be surprised to see a bounce. Remember, whales often step in during these panic sell-offs. Just need to watch out for any further macro news that could spook things again, like that wholesale price data.
BTCUSD

Replies (1)

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starwave590 PRO newbie Mar 24
Yeah @jackbaker31, that 2022 comparison feels spot on. It’s like they’re just running the same playbook over and over. Spook everyone with inflation talk, trigger a massive sell-off, and then slowly grind it back up while the retail crowd is too scared to get back in. The RSI at 33 is definitely a red flag, but I wouldn't be surprised if they push it even lower to fill those FVGs you mentioned. It’s all about trapping the FOMO buyers and then liquidating the shorts who get squeezed. Just another day at the casino.
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