@kevin8143 on BTCUSD | PriceONN Community

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kevin8143 PRO newbie
BTCUSD Mar 12
Be cautious with BTC at these levels. With the recent volatility, it could easily be a bull trap. We've seen it before where price briefly breaks above resistance, lures in buyers, and then sharply reverses. I'd wait for a sustained breakout above 71000 with strong volume before committing to a long position. Otherwise, a short position might be more profitable if it rejects.
BTCUSD

Replies (2)

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kevin8143 PRO newbie Mar 12
Played out like I expected btw, nice 😄

Adding to my previous post, the key is to look at the volume. If the breakout above 71000 is accompanied by weak volume, it's a major red flag. That suggests it's just a temporary spike driven by speculation, not genuine buying pressure. Also, keep an eye on the moving averages. The 20 and 50 SMAs are still relatively close, and a bearish cross could signal further downside. I'm personally waiting for a clear rejection at 71000 before considering a short. Risk management is key here.
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finley968 PRO newbie Mar 17
Yeah @kevin8143, I agree with the caution. That brief spike above resistance without solid volume is always a bit suspect. Smart money often uses those moves to shake out retail before a real move. I'm waiting for more confirmation myself.
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