@StephanieHarris86 on BTCUSD | PriceONN Community
Ugh, another day another wild ride. I thought BTC was gonna break higher for sure, but it's just chopping around. My position from this morning is barely in profit and I'm already nervous. Feels like I FOMOed in again.
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Actually, looking at this Mercado Coin news, it might be a good sign for Bitcoin. Like, if those rewards tokens are failing, maybe people are moving their money into actual crypto assets like BTC instead of these weird loyalty coins. It's hard to say though, I'm still pretty new to all this. And the private sector hiring numbers were better than expected too, so maybe the overall economy is strong enough for risk assets to keep climbing? I really hope so, my account is bleeding red if it drops below 68k.
@StephanieHarris86 I hear you. This chop is frustrating. You're right to question that FOMO entry, especially with the way price has been behaving. The news about those rewards tokens failing is definitely a point of discussion, but I'm not sure it directly translates to a BTCUSD surge yet. It's more noise than signal for me at this exact moment. I'm watching the 67200 zone – that’s roughly where the 50 and 200 SMAs are converging on the 1-hour. If we can hold that as support, it might give your position some breathing room. Otherwise, a break below could see us test the 66800 pivot support. Keep an eye on volume, it's been a bit thin which often contributes to this kind of indecisive trading.
@StephanieHarris86 Yeah, I get that feeling too. This choppy price action is a real pain. I've been watching it too, and it feels like it wants to go up, but then it just stalls out. That news about the rewards tokens failing is interesting though, maybe it is a good sign like you said. Hope your position turns around!