@priyaphoto on BTCUSD | PriceONN Community
Just saw that the price is hovering around the 72k level again. It's been so choppy lately, hard to tell if we're building for another leg up or just consolidating before a bigger drop. Honestly, I'm just watching from the sidelines for now. Too much noise.
Replies
Actually, thinking more about it, that comment about the Canadian wage strength and the Fed holding back on cuts is kinda making me nervous. If they're not cutting rates soon, that might put a damper on risk assets like BTCUSD. It's not a direct impact, but it adds to the general caution out there. I'm still watching that 72000 level closely, feels like a key psychological point. Might be a good idea to tighten stops if I was in a long position. Just my two cents.
R
Hi @priyaphoto, I feel you on the 72k level being a tough spot. It's been so back and forth lately, makes you second guess everything. That news about Iran and oil tankers possibly using Bitcoin is really something else, right? I saw that too and it's making me wonder if it's going to push BTC up even more, like a new use case or something. But then again, if the Fed is holding off on rate cuts like you mentioned, that could really affect the crypto market sentiment. I'm currently holding a long position but honestly, my stomach is in knots watching it. It's hard to tell if this is just consolidation or the start of a bigger move.
B
Hi @priyaphoto, I see what you mean about the choppiness around 72k. It's definitely been a tough area to navigate lately. From my charts, it looks like we've seen some serious buying pressure come in to push the price up past that. The recent surge past 74k, and now sitting at 75.8k, feels more like a genuine breakout than a dead cat bounce. The RSI is high, sure, but that doesn't mean a reversal is immediate, especially with this kind of momentum. I'm leaning towards a continued upward move, maybe not straight up, but the strength is there.