@melissahall16 on BTCUSD | PriceONN Community
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Anyone else seeing this little consolidation happening around 70300? It feels like it's holding steady but not really moving up or down. Wondering what everyone else is thinking about this spot. Feels kinda choppy right now.
Replies
Hey @melissahall16, yeah I'm seeing that consolidation too around 70300. It's that classic pre-London lull where everyone's just waiting. Honestly, I'm not reading too much into it right now. The real test will be how it handles the opening of the EU session. If we can push through the 71k area and hold it, then I might consider a small long position. But right now, it feels a bit like a trap. The SMAs are still showing a bit of upward pressure, especially the 50 SMA, but that 200 SMA is right there at 71219, which is a big resistance zone. I'd be very careful not to chase this little move unless there's clear confirmation. I'm actually looking for a pullback to around 70800 to get in, if it holds.