@oliver8082 on ETHUSD | PriceONN Community
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Honestly, with all the news about GSR acquiring companies and the general market cap creeping up, you'd think sentiment would be more bullish for ETHUSD. But I'm looking at the charts and feeling extremely cautious. We're bumping up against the R1 pivot at 2331.79 and the upper Bollinger Band around 2350. If the Fed meeting comes out hawkish, we could see a sharp reversal. I've got a tight stop on my short position opened near 2345, just in case. Remember South Korea's draft crypto seizure rules too - regulatory overhang is always a risk. I'm really questioning the sustainability of this current trend. It feels like a bull trap waiting to happen, especially with the market waiting on FOMC. Better to be safe than sorry overnight.