@JustinG17 on BTCUSD | PriceONN Community
I'm seeing a potential push towards 70k in the short term. The 20 and 50 SMAs are converging, suggesting bullish momentum. However, I'm wary of a fakeout, especially with the market about to open. I'll be watching for a decisive break above 68500 to confirm the uptrend. If it fails to hold, we might retest support around 67500.
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Update: I'm going to wait for the European session to gain some traction before making any moves. Too much chop right now. Also, I've been burned before by jumping the gun. I'm also keeping an eye on the Bollinger Bands; a squeeze could signal an imminent breakout. Ideally, I'd like to see a strong candle close above the upper band on the H4 chart before entering long. Patience is key, especially with BTC. Remember that dip last week? Could happen again anytime. So I'm setting alerts and waiting for confirmation.