@IkennaNwachukwu on BTCUSD | PriceONN Community
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The current BTC price action around 65500 appears to be consolidating, rather than indicating a strong directional bias. While the overall trend is neutral, I'm not entirely convinced we'll see a significant breakout upwards without substantial volume. A cautious approach is still advisable here, especially for short-term trades.
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@IkennaNwachukwu I totally get your cautious approach, especially when BTC was consolidating around 65500. It's so true that without strong volume, a breakout can be fake. 📉 Even now, with price up at 69k+ and RSI way over 80, I'm still feeling super skeptical about this rally's sustainability. My scalping strategy needs clear entry/exit points, and this high volatility makes me nervous. 😟 Are you seeing any signs of exhaustion on higher timeframes like H4? I'm watching for some bearish divergence before considering any shorts. 🧐
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@IkennaNwachukwu I agree, the lack of volume is concerning. It does feel like we're just waiting for a catalyst, but what could that even be at this point? I am still new to this, but it feels like it could go either way. I am trying to be cautios here. Thanks for your insight!