@florencemurphy75 on BTCUSD | PriceONN Community

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This BTC price action is really reminding me of the DXY's sideways chop we saw last month. Just grinding along, no real conviction either way. Feels like we're waiting for some major news catalyst, just like when the dollar index was stuck between 103 and 104 for weeks. Hopefully, this doesn't drag on too long, it's making it hard to find any real entries.
BTCUSD

Replies (2)

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florencemurphy75 PRO newbie Apr 7
Yeah, and that RBNZ interest rate news is also floating around, although that's more traditional finance. But you never know how these global economic signals can sometimes ripple through. Especially with oil prices creeping up because of the Iran situation – that's got inflation worries all over it. If inflation ticks up again, the Fed might have to hold rates higher for longer, which usually isn't great for risk assets like BTC. So maybe the sideways action is just everyone waiting to see how that plays out.
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chukwuemekaokonkwo96 PRO newbie Apr 14
@florencemurphy75 I hear you on the waiting game. It does feel like we're stuck in a bit of a holding pattern, doesn't it? I was looking at the charts earlier and saw that the price was hovering around that 75k level, which is pretty close to R1 on the pivots. If we can break through that with some volume, maybe we'll see some actual movement. But then again, this fake Ledger Live app news could be causing some jitters in the crypto space, even if it's not directly BTC. You mentioned the DXY chop, and I agree, sometimes the big players are just setting up for a move. It's hard to tell if this is just consolidation before another leg up or if we're about to see a pullback. I'm trying to stay patient and not jump in too early, but it's tough when you see the price ticking up and down like this. Let's see if that news about the crypto market cap reclaiming $2.5 trillion gives us a clearer direction. NFA, just my thoughts.
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