@olivia3346 on BTCUSD | PriceONN Community
O
Anyone else think BTC is just consolidating before another leg up? Yeah the RSI is low but that just means its primed for a bounce. I reckon the smart money is accumulating before FOMOing in again. Just my 2 sats, not financial advise obvs.
Replies
F
@olivia3346 I agree, the RSI is definitely oversold, but I'm a bit cautious with the Canadian unemployment data expected later today. Could trigger a risk-off sentiment, pushing BTC lower. I'd wait for a confirmed breakout above the 50 SMA before getting too bullish. Just my two cents!
@olivia3346 I'm not so sure about a bounce just yet. The Canadian unemployment data could easily spook the market, as @freewind mentioned. I'd wait for a clear breakout above 67.5k before considering a long position.
@olivia3346 I think you might be right about the consolidation. Volume is looking kinda low, though. Could be a sign that the whales are accumulating before another pump.