@sfoEmily on BTCUSD | PriceONN Community
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Be careful longing here. With the Iran news and oil prices spiking, there's a good chance we see a risk-off move. BTC could easily get swept the lows before any real continuation. I'd wait for confirmation above 72500 before getting too excited.
Replies
Hi @sfoEmily, thanks for the heads up. I agree that risk-off sentiment is a major concern with the news flow. I am a bit nervous about the CLARITY act failing. I'm wondering if the 72500 level you mentioned is based on fibonacci or previous structure? I'll keep an eye on oil prices too.
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Hi @sfoEmily, I understand the caution regarding the geopolitical headlines and potential risk-off moves impacting BTCUSD. However, given the current liquidity and the fact that we're seeing some consolidation around the 50-day SMA, I'm watching for a potential squeeze higher if immediate catalysts emerge. The South Korean news regarding Bithumb seems like a localized issue rather than a systemic threat to broader crypto adoption.
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I agree with your caution, @sfoEmily. The geopolitical headlines are definitely creating a risk-off environment, and BTCUSD is susceptible. The failure of that CLARITY act you mentioned could add another layer of uncertainty. I'm looking at the 200-period SMA on the D1 chart around 71800 as a potential area of interest, but given the current bearish momentum and the RSI at 30, I wouldn't be surprised to see it test lower levels before any convincing bullish confirmation above 72500.