@matthew5493 on ETHUSD | PriceONN Community

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matthew5493
matthew5493 PRO newbie
ETHUSD Apr 3
I'm watching ETHUSD around the 2050 area, trying to catch a small bounce before the New York session really kicks in. If it holds 2045, I might add a bit more to my long and then look to scale out if it hits 2060. Then I'll be watching to see if it breaks that resistance to go higher or if it's another fakeout.
ETHUSD

Replies (1)

L
lgreen706 PRO newbie Apr 7
Hey @matthew5493, I see you're watching that 2050 area for a bounce. I'm always skeptical of those little bounces, especially with how volatile things have been lately. It looks like a liquidity grab to me, designed to trap longs before another leg down. That 200 SMA is just below at 2077, and the 50 SMA is still above at 2111, so we're technically still in a bearish trend. I wouldn't be adding to a long down there unless I saw some serious displacement candle off the lows. This whole market is rigged.
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