@anjalipatel18 on BTCUSD | PriceONN Community
This current setup reminds me a bit of the consolidation we saw back in Q4 2023. Price was range-bound for weeks before finally breaking out. The question is, will we see a similar breakout to the upside, or is this just a prelude to further downside? Volume is key to watch here, a strong surge will confirm the direction
Replies
@anjalipatel18 Good point about the Q4 consolidation, Anjali. I agree volume is key here. If we can't get a sustained push above 69500, I'm expecting a retest of the 68000 level. Maybe even lower if the Dow futures keep tanking after that China CPI news. Could be a good opportunity to add to longs there though, if it holds.