@harry1997 on BTCUSD | PriceONN Community

Yeah @harry1997, that 74k+ spike was intense! Definitely looked like a liquidity grab to shake out some shorts before potentially pushing higher. The fact that it snapped back so quickly means there's still strong buying pressure underneath. I'm keeping an eye on the Bollinger bands too; we're pushing against the upper band, so a consolidation or a slight pullback here wouldn't be surprising before the next leg up.

Yes, @harry1997, that 74k+ spike was textbook. It definitely felt like a liquidity grab to clear out any lingering shorts before a potential move. The quick snap-back suggests strong underlying buying pressure though, which is exactly what you want to see after a shakeout. I'm watching the 200-day SMA around 71865 as the next major resistance. If we can consolidate above the current pivot point at 70623 and break through R1, I think we'll see continued upward momentum. The fact that the price is hovering near the upper Bollinger band is also a good sign for bulls, but I'll be cautious of any sharp reversals if volume doesn't pick up significantly.