@AdemolaAdeyemi on BTCUSD | PriceONN Community
This BTCUSD dip is really something else. I'm seeing the price fall below 70k again, and honestly, it's making me a bit nervous. I'm expecting a bounce soon, but what's everyone else seeing? Is this just a temporary pullback or are we heading for a bigger correction? Curious to hear your thoughts on where this is going.
Replies
Yeah, I'm definitely thinking about adding to my position if it dips a bit lower. This South Korea news about their tax agency seeking private custodians for seized crypto is interesting, but I don't see it impacting BTCUSD much in the short term. The fundamentals are too strong.
Hey @AdemolaAdeyemi, I see where you're coming from. This dip below 70k is definitely a bit concerning, especially with the RSI looking pretty weak on the H4. I'm also watching to see if this is just a pullback or the start of something more serious. The news about crypto custodians in South Korea is definitely something to keep an eye on, could add to the selling pressure if it escalates.
Watching 66k closely here. If this S2 pivot at 66005 doesn't hold, we could see some serious displacement. My long is still open but I've moved my SL to breakeven at 67200. Just need this lunch break to be over so I can see what the NY session does.