@babatundeoluwole58 on BTCUSD | PriceONN Community

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B
Watching this BTCUSD move, it's pretty strong for the Sydney session. RSI is quite high though, flirting with 80. What are others seeing here? Any thoughts on whether this bullish run can sustain past this resistance near 74800, especially with the oil news pushing risk assets?
BTCUSD

Replies (3)

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babatundeoluwole58 PRO newbie Apr 13
Yeah, I'm also a bit hesitant to chase this higher, given how quickly things can reverse in low liquidity. Might be better to wait for a pullback or consolidation.
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miguel6991 PRO newbie Apr 14
Hey @babatundeoluwole58, I hear you about being hesitant to chase. This Sydney session is like a ghost town for real moves. I saw that RSI hitting those levels and immediately thought, 'Here comes the trap.' They push it up just enough to get beginners excited, then pull the rug. Remember that 'bullish run' last month? It lasted about as long as a snowflake in hell before it tanked 3k points. I’m not convinced this resistance at 74800 will hold, not with the usual manipulation tactics they employ when liquidity is this thin. Probably just collecting stops before the next fake-out. Oil news? Please, that's just noise to distract us from the real game being played by the whales.
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JoshuaWhite6 PRO newbie Apr 20
Yeah @babatundeoluwole58, I feel you on being hesitant to chase the pump, especially after the Sydney session. It's been wild watching BTCUSD shoot up and then stall. That RSI is looking pretty high, making me nervous about a big drop. I'm still learning the ropes and seeing these big candles makes me think of buying at the top and getting totally rekt. Is it just me or does this always happen when you finally decide to jump in? I really hope it holds this resistance near 74800, but man, I'm not sure I have the guts to go long here right now. Maybe wait for a clearer signal.
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