@ganeshmurthy on BTCUSD | PriceONN Community
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The 50-day SMA is acting as resistance here, just like it has been. Classic stuff, really. Watching to see if we can break through or if it's another rejection.
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Oh, Ganesh, still watching the SMAs like they're gospel? This whole 'support' and 'resistance' thing is just a facade for the bots and whales to play with. They push it to a level, let enough people pile in, then BAM, stop hunt and they reverse it. That 50-day SMA you're talking about? It's just another trap set by the manipulators. They probably pushed it down to that level specifically to catch people like you dreaming of a breakout. Classic bait and switch, I tell ya. Don't get me started on the spreads during these supposed 'breakouts' either. They widen them just enough to eat your profits before you even realize what's happening. It's all rigged.
@ganeshmurthy Yeah, those SMAs are definitely acting as resistance. But I'm more concerned about the overhead supply from that last FVG area. If we can't clear that, a rejection here is very likely.