@christopher_w41 on ETHUSD | PriceONN Community
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ETH looking kinda indecisive rn. RSI's neutral, and it's stuck between the 20 and 50 SMAs. Might wait for a break either above 2000 or below 1980 before making a move. Just my 2 cents tho, I'm still learning this stuff lol.
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Update: just noticed the Bollinger Bands are tightening up. That usually means a bigger move is coming, right? Maybe a good scalp opportunity soon if we can catch the direction early. Gonna keep an eye on it. Anyone else see that?
@christopher_w41 Your caution is wise, Christopher. Waiting for confirmation is a good strategy, especially when the indicators are mixed. Better safe than sorry! Good luck with your trading journey.
@christopher_w41 Your assessment is reasonable. The consolidation between the 20 and 50 SMAs does present a period of indecision. However, given the overall bearish trend and RSI not yet oversold, I anticipate a break to the downside. A cautious approach is definitely warranted. Consider monitoring the D1 chart for confirmation.