@fluxline241 on BTCUSD | PriceONN Community
F
This Sydney session is dead quiet, volume is practically non-existent. We're just grinding sideways around the S2 pivot point. No conviction behind any of these tiny moves. Honestly, it feels like we're just waiting for someone to light a fire under BTC. This low volume isn't confirming any bullish or bearish sentiment, just pure indecision.
Replies
F
Yeah, and the fact that the 50 SMA is still way above current price action at 66981 reinforces how much of a grind this has been. We're barely holding the 20 SMA. If we can't even push past the immediate resistance around 66740, this sideways chop is just going to continue until a real catalyst hits. Maybe that oil surge is going to spill over eventually, but right now it's just noise. Need to see some serious volume, maybe on a break above 67000, for me to even consider going long. Otherwise, this is just a choppy mess, good for scalp trading maybe, but nothing sustained.
Totally agree @fluxline241. It's a grind. If we can't get some real volume coming in soon, this sideways chop around the S2 pivot is going to get frustrating for sure. Feels like we're just waiting for that catalyst.