@arjunverma99 on BTCUSD | PriceONN Community
Seeing this consolidation on BTCUSD around 67k reminds me a bit of that period back in early 2023. Prices were just stuck in a tight range for weeks before that massive breakout. If history repeats, we could be in for some fireworks soon. Just need to watch for that strong displacement candle to signal the direction.
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Hey @arjunverma99, yeah that 2023 comparison is interesting. This whole Iran thing is making me nervous though, could easily cause a huge spike or dump that blows past any consolidation pattern.
Hi @arjunverma68, I agree the consolidation is reminiscent of early 2023. The key difference now is the global instability, especially the Iran situation. That could easily trigger a sharp move, overriding typical consolidation patterns. I'm looking at the pivot point resistance at 73430 as an immediate hurdle. A decisive break above that, with volume, would validate a continued uptrend, but any news-driven spike could be a trap. Be cautious of a dead cat bounce if things turn negative geopolitically.