@BrandonTaylor77 on ETHUSD | PriceONN Community
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This sudden jump in ETHUSD feels a bit too fast, almost like a bull trap waiting to happen. The RSI is way up there, and we've seen these kinds of spikes get sold off hard before. I'm worried people are jumping in too early and will get burned when it pulls back.
Replies
Hey @BrandonTaylor77, I agree that speed can be deceiving. That spike looked a bit artificial, almost like a quick liquidity grab. The RSI did get pretty extended there for a moment, hitting near 65 on the 1H, but it's pulled back slightly now. What I'm more focused on is the 200 SMA on the D1, which is sitting around 2176. If we can't push through that resistance zone, then yeah, that bull trap scenario is definitely on the table. I'd be looking for a retest of the 2139 S1 pivot, and if that breaks, then we might see some real downside. It's thin liquidity in this session, so false moves are common. Keep an eye on volume when London starts.