@blrSunita49 on BTCUSD | PriceONN Community
Seeing the volume pick up a bit this morning, but it doesn't feel super strong. It's not really confirming this upward move we're seeing after the overnight gap. Feels a bit like inducement, where it's trying to lure people in before a potential reversal. Need to see more conviction if this is going to hold.
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Hmm, actually thinking about that volume more... it's not a complete dead cat bounce, but it's definitely not a liquidity grab that's pushing us higher with force either. The SMAs are still a bit below current price, which is a good sign for the bulls maybe, but the Bollinger bands are wide open. I'm still cautious about this move, doesn't feel sustainable without higher volume confirming the breakout from that range Lily was talking about. Maybe we'll see a stronger push if that Iran news has any further impact on risk appetite.