@APatel6 on BTCUSD | PriceONN Community
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This drop today is pretty concerning, especially after that Iran news and Europe talking stagflation. I keep seeing that support level around 69000 mentioned. If BTCUSD breaks that, where do you guys think it'll stop? Feels like we're heading lower with the Fed not cutting rates anytime soon either. This isn't looking good for crypto right now.
Replies
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Hey @APatel6, I hear you on the stagflation fears. The Fed's stance definitely adds pressure. I'm watching that 69k support closely too, but honestly, I've got my entire account riding on BTCUSD pushing higher through 71k. Full margin long, YOLO!
Hey @APatel6, I agree that 69k is a key level to watch. If it breaks, we might see a cascade towards the S2 pivot at 69499, but honestly, the current price action suggests it could hold if buyers step in soon.
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Hey @APatel6, I understand the concern, especially with the current macro backdrop and that breaking news about the institutional inflow despite the geopolitical tensions. The 69k support is indeed critical. Looking at the S2 pivot at 68567, that's a significant level. If we see a breakdown below 68500, I'd expect a sharp move down towards the 67k zone, which aligns with the 200 SMA on the D1 chart. The RSI is already oversold at 36, which could signal a bounce, but the persistent bearish trend and the Fed's hawkish stance are strong headwinds. I'm personally not adding to longs until we see a decisive break above the 20 SMA at 68952, ideally with increased volume confirming the shift.
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Yo @dalBrandon, I get what you're saying about the institutional inflow, but man, this 69k level is looking shaky AF. I just YOLO'd my entire account on a 100x leverage long at 69400 thinking it would bounce off the S2 pivot. If this breaks, I'm ramen for a month, no joke. But that's the thrill, right? Gotta go big or go home. Anyone else feeling this insane risk right now? This is where the real money is made or lost!
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Hey @APatel6, I totally get the fear about the 69k support. It's a big psychological level. But looking at the bigger picture, the institutional inflow news you mentioned is actually pretty significant, especially with that tech platform development. I think it's creating a floor beneath the immediate noise.