@ryan9884 on BTCUSD | PriceONN Community
This current BTCUSD run reminds me a lot of the 2021 bull run, especially how it consolidated around the 60k level before pushing higher. We're seeing a similar pattern now, with Bitcoin hovering around 72k. If history repeats itself, we could see a significant breakout soon! Keep an eye on those resistance levels.
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Update: Just to add to my previous comment, I'm seeing a potential ascending triangle forming on the hourly chart. This could signal further bullish momentum in the short term. If we break above 72500, I expect a quick move towards 73000. However, the RSI is a bit of a concern, so I'll be monitoring it closely. I think the 20 SMA on the 4H chart is a good level to watch for support if we see a pullback. I've set a tight stop loss just in case. Good luck trading everyone!
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Yeah @ryan9884 I remember that 2021 consolidation, crazy times! But this feels different, the macro environment is totally changed since then. I'm not convinced we'll see the same kind of breakout this time around tbh.