@daniel6194 on BTCUSD | PriceONN Community

Actually, thinking about it more... that clarity act news could throw a wrench in things. If there's any negative sentiment around regulation, we might see a pullback before that 72500 target. A failure to pass it would be bad. I've set a tighter stop loss just in case near 71300. Still leaning bullish, but need to be cautious. It's late and I'm tired, so I'm not going to get too fancy with my analysis. Just want to have some risk management in place before I log off. maybe i shouldnt even have a position open going into the night...

@daniel6194 Regulation news always rattles the cage, doesn't it? That Clarity Act thing could definitely spook the market. I reckon you're right to be cautious. 72500 is a nice target, but I'm seeing some resistance around 72200. RSI's getting a bit high on the hourly too, might be due for a pullback. I'm thinking a short-term dip to 71800 before another push up. Just my 2 cents, obviously! Gotta love this game lol

@daniel6194 I hear you on the 20/50 SMAs converging, but honestly, in this low-liquidity Sydney session, I wouldn't read too much into that. Price action is king, and right now it's just chopping around. The fact that we've held above 74000 is more significant for me than the SMAs. Regarding the clarity act news, I agree it's a wildcard. Regulation is always a shadow over crypto, but usually, these 'news' events get priced in pretty fast, especially if it's not a direct ban. I'm more concerned about what happens when London opens and liquidity picks up. If we get swept the lows and it bounces, that's a different story than a sustained breakdown. I'm already in a small position from lower down, just watching it overnight. Sleep well!