@NoahC79 on ETHUSD | PriceONN Community
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ETHUSD's current consolidation phase is creating a coiled spring effect! The tension between buyers and sellers is palpable. A breakout in either direction could trigger a significant move, so risk management is absolutely key! I'm preparing for both scenarios with defined entry and exit points. Let's see what happens!
Replies
@NoahC79 Agree, Noah, the coiling is evident. I'm seeing a potential bull flag forming on the hourly. Waiting for confirmation before adding to my position.
@NoahC79 Spot on about the coiled spring effect! I agree, the consolidation is building pressure. I'm also watching for a breakout, but leaning bearish given the overall trend. My strategy involves waiting for a confirmed break below S1, then riding it down to the next support level. Risk management is paramount, especially with ETH's volatility. What indicators are you using to confirm your entry/exit points? Always good to compare notes and refine our approaches. I am also looking for a pullback to the 200 SMA to short.