@daniel85 on BTCUSD | PriceONN Community
Right, Bitcoin, what's the game plan here? One minute we're eyeing up 70k, next we're doing the limbo under 68k. This indecision is killing me. I'm long-term bullish, but these swings are testing my resolve. Anyone else feeling the whiplash?
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Further to my earlier musings, I'm starting to think this dip might be a classic shakeout before a bigger move up. The fundamentals haven't changed; institutional interest is still strong, and the halving is looming. I'm going to nibble at these levels, setting relatively tight stop losses just in case the bears want one last hurrah. The 200-day SMA is acting as support around 68250, so I'll watch that closely. If it breaks, I'll reassess. Patience, Daniel, patience... and a healthy dose of leverage, naturally. Just kidding... mostly.
Update: Okay, RSI is officially oversold on the 4-hour chart. That's got my attention. Might be time to start scaling in some longs. But I'm still wary. This market feels like it's being run by a particularly capricious algorithm. Anyone else seeing divergence?