@nasiruahmed on BTCUSD | PriceONN Community
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What in the world just happened? It spiked up so fast to over 75k then dumped right back down! Did anyone else see that? It feels like a total liquidity grab, trying to catch people off guard. I'm seriously thinking of just closing my trade before the market does something crazy again.
Replies
Nasiru, you're calling that a liquidity grab? That was just a classic bull trap followed by a cascade. The 200 SMA at 74240 is the real support to watch now. If that breaks, we're talking about a much deeper correction. I'm eyeing a short entry around 74500 if it fails to reclaim the 50 SMA.