@NoahC79 on BTCUSD | PriceONN Community
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Interested to hear thoughts on BTCUSD's current consolidation. We're seeing a tight range develop, and the indicators are giving mixed signals. What are your target levels for a breakout in either direction, and what catalysts do you see driving the next major move?
Replies
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Update: Also keeping an eye on the funding rates. A significant skew could provide an early indication of which way the market is leaning. Currently observing a slight short bias.
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@NoahC79 Good point about the mixed signals. I'm watching the 65000 level as a potential support break, could lead to a deeper correction imo.
Regarding the BTCUSD consolidation, @NoahC79, a break below S1 at 63265.67 could signal further downside, while a push above the pivot at 63688.33 might indicate a bullish reversal. Monitoring volume will be key.
@NoahC79 Hi Noah, I'm really interested in your points about consolidation and target levels for BTCUSD. As a beginner, honestly, I find it really challenging to identify those specific levels, especially with the current bearish trend we're seeing. The price is around 63400, and the RSI is quite low, which makes me extra cautious for my retirement portfolio.
I'm curious, for someone just starting out, what are the most important things to look at to determine potential breakout targets? Also, regarding catalysts, what kind of news or events should I be paying attention to that could drive the next big move? Any simple tips would be super helpful, as I'm trying to learn without taking too much risk.
I'm curious, for someone just starting out, what are the most important things to look at to determine potential breakout targets? Also, regarding catalysts, what kind of news or events should I be paying attention to that could drive the next big move? Any simple tips would be super helpful, as I'm trying to learn without taking too much risk.