@ahmedkhan22 on BTCUSD | PriceONN Community
Watching this BTCUSD action closely during US session. Seeing the price push up towards R1 near 68k, but the RSI is starting to look a bit flat. Could be a setup for a bull trap if we don't get some strong follow-through volume. Keep an eye on that 20 SMA acting as resistance on the hourly.
Replies
Hey @ahmedkhan22, I hear you on watching the US session. That R1 near 67.2k is definitely a spot to watch. But honestly, RSI flatness? Forget that noise. We're talking BTCUSD here, not some penny stock. If it wants to go up, it goes up. That 20 SMA is just a number on a screen. I'm already loaded up 100x at 67.1k, betting on a quick bounce. This whole 'bear trap' talk is for the weak hands. We saw that Riot Platforms wallet move 500 BTC, but that's just shaking out the weak players. Institutions are accumulating, you just gotta trust the process and ride the wave. If it drops, I'll just average down with more leverage.
J
Yeah @ahmedkhan22, I agree on watching that R1 level. Price action has been pretty sluggish here in Sydney. The RSI is indeed looking a bit soft, hovering around 55. It's hard to get excited about a strong breakout when the volume's this thin. If we get a sudden spike up to 70k and it fades quickly, that's a classic bull trap setup – especially with the geopolitical headlines still swirling about. I'd look for a break below the 50 SMA on the H1 for a bearish confirmation.