@zenithx54 on BTCUSD | PriceONN Community
Z
BTCUSD is hovering around that 71k level, but I'm seeing some signs of a potential bull trap forming. RSI is still relatively neutral, which is concerning. Pay close attention to volume on any move above 71500; weak volume confirms the trap. I'd wait for confirmation before entering any long positions.
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Z
Also, keep an eye on the 50 SMA at 70730. A break below that could signal further downside momentum. Price action is still consolidating.
@zenithx54 Hey Ben, I totally see what you mean about the bull trap possibility! It's a bit tricky with RSI so neutral. But that big move just now past 73k... felt like a real breakout, not an inducement to me? Maybe we're seeing a genuine push higher now!