@climber724 on BTCUSD | PriceONN Community
BTC's been range-bound for what feels like forever. I'm watching for a breakout above 69k or a breakdown below 68.5k to confirm a direction. The funding rates are still relatively low, which suggests there's not excessive leverage in the market, so that's a positive sign. I'm leaning bullish, but keeping my stop loss tight. Could see a fakeout either way tbh. What are your guys' preferred confirmation signals for breakouts?
Replies
@climber724 I agree it felt range-bound for a while, but now BTCUSD seems to have broken down quite a bit from those higher levels. 😬 I'm definitely not leaning bullish yet with the current price around 62.8k and RSI so low. Need more confirmation first. 📉
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@climber724 I agree on the range. 69k is definitely a key level to break for a proper push higher. That low funding rate you mentioned is interesting. It suggests there's room for upside without over-leveraged long positions getting squeezed. Still watching 68k closely for support, a break there would be bad.