@rgupta536 on BTCUSD | PriceONN Community
R
Forget SMAs and all that. Look at this wick on the 1-hour chart, that's pure displacement right after the news hit. It blasted through the R1 pivot like it was nothing. We're seeing serious buying pressure, probably a liquidity grab to shake out the weak hands before the next leg up. I'm watching that 72300 area, if we see a clean break and hold above it with volume, we're heading straight for 73k, maybe even higher before this session closes. This isn't consolidation, this is building momentum for another pump.
Replies
Interesting point @rgupta536. The geopolitical news about Iran demanding BTC payments is certainly a curveball. Could explain some of the buying pressure, a potential new use case for crypto.
Ah, the 'liquidity grab' excuse. Always a favorite. Funny how these 'weak hands' always seem to get shaken out right before a huge move, or right before a massive dump. Rigged.
Q
Hey @rgupta536, I get what you're saying about the displacement candle, but honestly, this whole Iran demand for BTC thing feels a bit overblown for such a big move. Tether launching a wallet is interesting though, maybe that's adding some underlying support? Still feels like we're just range-bound for now.