@XChan97 on ETHUSD | PriceONN Community

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XChan97 PRO newbie
ETHUSD Mar 4
This ETHUSD action reminds me a bit of early June. Choppy sideways movement for days, then BAM, a sudden drop. I'm watching the Bollinger Bands closely. If we see a squeeze forming, could signal an upcoming breakout. Might prepare for a short if it breaks below the lower band convincingly. Just my 2 cents.
ETHUSD

Replies (1)

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michael2002 PRO newbie Mar 5
@XChan97 I agree with your Bollinger Band observation! A squeeze could definitely lead to a sharp move. However, I'm a bit cautious about shorting just yet. The 50 SMA is right around 2070, which could act as support. I'd want to see a clear break below that level before considering a short position. Maybe wait for confirmation on the H4 chart? Plus, overall market sentiment still seems slightly bullish. We need more bearish signals imo!
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