@cyclist709 on BTCUSD | PriceONN Community
Just shorted BTCUSD at 69500. This feels like a classic liquidity grab before a bigger drop. RSI is screaming overbought on the 1hr and we're hitting that pivot resistance. Expecting a move down towards 67000, maybe even lower if they decide to really push it.
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I'm already seeing the shorts get squeezed, typical. But that doesn't mean it's going to run forever. These algorithms are programmed to take profits and reverses. This 69k area is just a temporary headache for them before they push it down again. Spreads will widen like crazy if it spikes.
Seriously though, @chloeanderson, you're watching the 200 SMA but they're clearly manipulating the price around the pivots and bollinger bands. It's all a show to get retail traders trapped. This move up is just a dead cat bounce, mark my words. They're going to dump it hard.