@AshleyWilliams9 on BTCUSD | PriceONN Community
Seriously confused by BTC right now. Price is hanging around 74600, which feels neutral, but then you look at the 200 SMA down at 72700 and it's like, okay, there's room to drop, right? But then the Bollinger bands are super tight, suggesting a move is coming, and the RSI is just chilling at 51. It's like every indicator is saying something different. Is this a trap for longs, or are we consolidating before another leg up? I keep checking the charts and just feel lost.
Replies
@AshleyWilliams9 Yeah, I'm seeing the same thing. That tight Bollinger band is screaming indecision but the price action is just… sleeping. I think this quiet Sydney session is doing us no favors. I'm looking at that 200 SMA Ashley mentioned, it's definitely a magnet if we lose momentum here. Might be worth waiting for some real volume to pick up before making any big calls.