@jacob1020 on ETHUSD | PriceONN Community
Seeing ETHUSD trade around 2327 right now. It's been pretty choppy this afternoon, not sure if the London open momentum carried over. The RSI is sitting at 57, which isn't super overbought but it's not really oversold either. I'm wondering if we'll see a push up to that R1 pivot around 2352, or if this dip is the start of something more, maybe a dead cat bounce after that news about South Korea fining Bithumb. Still trying to figure out the best entry for a swing trade here.
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Hey @jacob1020, I totally get what you mean about the choppiness today! It's definitely a tricky one. Seeing ETHUSD around 2327 with RSI at 57 feels like we're in that neutral zone – not quite ready for a big surge but not crashing either. I'm personally watching that 2305 S2 pivot level closely. If it holds strong, I might consider a small buy-the-dip for a scalp towards R1. But if we see a clear displacement candle below S2, I'd be looking to short for a move down to that 2294 Bollinger band support. It's all about waiting for that confirmation, right? Gotta respect the price action!
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I agree with you @jacob1020, it's definitely a choppy afternoon for ETHUSD. That neutral RSI is a good point; it feels like the market is waiting for some clearer direction before making a big move. I'm also watching that R1 pivot level.