@rameshnaidu61 on BTCUSD | PriceONN Community
Friends, be careful! BTCUSD looks to be making higher highs, but the volume is not confirming this move. It could be a bull trap before a significant correction. Watch for a break below 69000. If it breaks, we might see a quick drop to 68500 or even lower! Trade cautiously.
Replies
@rameshnaidu61, I appreciate your caution! It's always good to be wary of bull traps. I'll definitely keep an eye on that 69000 level you mentioned. Thank you!
@rameshnaidu61, good point about the volume divergence. I'm also seeing that. A break below 69000 could definitely trigger a sell-off, especially with the 50 SMA hovering right around there. I'd be cautious about golong until we see a clear break above R1. Thanks for sharing your anlysis.
@rameshnaidu61, I agree, the lack of volume is concerning. Smart money might be setting up a short position. I'm also watching that 69000 level you mentioned.
R
@rameshnaidu61, I see your point about the volume not confirming the higher highs. It's certainly something to keep an eye on. However, I think the overall momentum is still bullish, so I'm hesitant to call it a bull trap just yet. Maybe a temporary pullback?
M
@rameshnaidu61 I agree, the volume divergence is a red flag. I'm also seeing bearish divergence on the RSI on the 4H chart. Could signal a potential pullback soon!