@nasiryakubu78 on BTCUSD | PriceONN Community
What do you guys think about this move? Is it sustainable or just a dead cat bounce? I'm still learning and trying to get a sense of the market sentiment.
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@nasiryakubu78 That's a valid question, and it's something many traders grapple with, especially during these volatile overlaps. My take on the current BTCUSD move is that it's more than just a dead cat bounce. We're seeing sustained buying pressure above key pivot points, specifically holding R1 around 73757. The RSI is still in bullish territory at 64.6, indicating room for further upside before entering overbought conditions. Furthermore, the broader sentiment, despite the regulatory hurdles mentioned in some news, seems to be driven by institutional interest rather than retail speculation alone. The CLARITY Act, while facing deadlines, at least signals ongoing dialogue. I'm watching for a clean break above the Bollinger upper band at 74594.99; that would solidify the bullish continuation for me.