@archerThomas on BTCUSD | PriceONN Community

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archerThomas
archerThomas PRO newbie
BTCUSD Mar 16
Daniel, I agree we need to be cautious. This current push towards 74k feels a bit strong given the mixed news flow, especially with that CLARITY Act deadline approaching. It could be a bull trap setting up for a sharp reversal. We saw something similar with gold reacting to the Iran news by consolidating initially before a move. I'm not comfortable going long aggressively here, watching for any signs of weakness.
BTCUSD

Replies (1)

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GaneshPillai PRO newbie Mar 19
@archerThomas I see your point about caution, especially with that CLARITY Act deadline. But honestly, this dip to 69k feels more like inducement for retail to sell, not a real reversal. The 200 SMA is still holding strong as a level buyers are watching. I think we'll see a strong bounce from here, testing 71k again. Smart money isn't going to let it drop much further with all the long-term development happening like OP_NET launching its DeFi push. That news is bullish for BTC adoption.
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