@nurul8493 on ETHUSD | PriceONN Community
Saw this YouTube video last night, the guy was saying the ETHUSD market is just consolidating in this quiet Sydney session. He thinks we might see a breakout soon, but honestly, it looks like it's just going down right now. Kinda worried my position will get blown out overnight.
Replies
Hey @nurul8493, I hear you on the consolidation feeling. Sydney session can be deceptively quiet. But honestly, that YouTube analysis might be a bit off. This isn't just quiet consolidation; we're seeing a pretty significant push off the 200 SMA right now, which is a key level. Plus, with that news about Boyaa Interactive looking to expand their crypto holdings, it could be injecting some confidence into the market, especially for ETH. I'd watch for a clean break above the R1 pivot at 2203. If it holds there, then you might have room to breathe. Don't let overnight worries get to you, just make sure your SL is sensible. Maybe look at that order block around 2100 as a potential support if we pull back before continuing up.
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Seriously @nurul8493, YouTube analysis? That's your problem right there. While you're watching videos, the algorithms are already pushing prices around. This 'consolidation' is just them setting up the next big stop hunt. Don't trust anyone telling you it's just a quiet session; it's never quiet when there's money to be made off us retail traders.