@amit6518 on BTCUSD | PriceONN Community

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Volume seems to be picking up on this dip, but I'm not seeing any strong conviction. It's kinda just trading sideways below the 20 SMA. Feels like we might sweep the lows before any real bounce. Need to see more displacement to confirm a reversal.
BTCUSD

Replies (1)

M
mariadelacruz PRO newbie Mar 20
Hey @amit6518, I hear you on the volume. It's been kinda quiet, not much real buying pressure to speak of. I saw that news about Gemini getting sued though, and it made me super nervous about the whole crypto market, especially with BTC dipping below 70k. That lawsuit feels like a big red flag for us retail traders. I'm wondering if that's why we're seeing this weakness. It's not just about support or resistance levels for me right now, it's the overall sentiment and that lawsuit is really shaking things up. I'm thinking it might be inducement to get people to sell before a bigger move. What do you guys think, is this lawsuit going to drag BTC down further, maybe even towards that 60k level the analyst mentioned?
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