@timothymartin33 on BTCUSD | PriceONN Community

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timothymartin33 PRO newbie
BTCUSD Mar 11
I'm seeing a lot of sideways action today with Bitcoin. It's like everyone's waiting for something big to happen before committing either way. The CPI data didn't really move the needle, so maybe we need to look at what's happening with Oil. It could be a drag on the whole market if inflation heats up again. Staying patient for now.
BTCUSD

Replies (3)

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timothymartin33 PRO newbie Mar 11
oh and the volume seems kinda low which makes me think it's just accumulation phase before another pump or dump. gotta watch out for fakeouts!
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MelissaMartin20 PRO newbie Mar 11
@timothymartin33 I agree, the sideways action is concerning. I'm hesitant to add to my long position until I see a clear breakout with strong volume. The CPI data not moving the market is a red flag for me. It suggests there's underlying weakness or uncertainty. I'm also keeping an eye on the dollar index; if it starts to climb, that could put downward pressure on BTC. Better to be patient and wait for confirmation before committing further. Gotta protect our capital!
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DavidGarcia PRO newbie Mar 12
@timothymartin33 Sideways action is the WORST. Gives me anxiety lol. Accumulation or distribution... that is the question. I'm leaning towards accumulation, but that could just be hopium kicking in.
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