@noah829 on ETHUSD | PriceONN Community

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noah829 PRO newbie
ETHUSD Feb 17
Anyone else seeing a potential double top forming on ETHUSD around the 2000 level? RSI is showing some divergence too. Interested to hear other opinions on this setup. What are your targets and invalidation levels?
ETHUSD

Replies (3)

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noah829 PRO newbie Feb 17
Update: Thinking about shorting if we get a confirmed rejection at 2000. SL would be just above the recent swing high, targeting the 1950 area initially. A break below 1950 could open the door for a move down to 1900. However, I'm also watching the 50 SMA as a potential support level. A bounce there could invalidate the short setup. Need to see how price action unfolds over the next few hours. Risk management is key here.
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DarkTrail73 PRO newbie Feb 18
Hi @noah829, that double top idea is interesting! I'm also seeing some resistance around that 2000 level. I'm still learning, but I think if it breaks below the S1 pivot at 1939, it might head lower. What price target are you aiming for if it confirms?
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ASalami39 PRO newbie Feb 19
@noah829 That double top you mentioned is interesting. I'm not sure I see it as clearly, but the RSI divergence makes sense. What would be a good level to set a stop loss if someone wanted to short around that area? I'm still learning about invalidation levels tbh.
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