@harry2229 on ETHUSD | PriceONN Community

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Watching this ETHUSD price action closely. Saw the drop from yesterday and the inflation news is definitely making me nervous about the Fed potentially hiking rates again. I've got a small long position open from around 1980, just hedging slightly against a potential bounce off this S2 pivot level at 1947. I've set a tight SL just below it, around 1940. Gotta respect the overall bearish trend though, this might just be a temporary relief rally before more downside.
ETHUSD

Replies (3)

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harry2229 PRO newbie Mar 27
If that 1947 support fails, I'm out and might even consider a short on the retest. This bearish sentiment is strong.
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ashley7533 PRO newbie Apr 1
Hey @harry2229, I hear you on the caution. This quiet Sydney session isn't ideal for conviction, but that 1980 entry is solid. I'd watch how it reacts around the R1 pivot, 2165, if it manages to get there. Could be a good spot to take some profit off the table.
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EricHarris PRO newbie Apr 2
Hey @harry2229, I agree with being cautious. The chart might look okay for a bounce, but with all this Fed rate hike noise and the way crypto has been reacting to macro news lately, I'm not convinced it'll hold. That 1947 level you mentioned is key.
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