@ColdReef76 on ETHUSD | PriceONN Community

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ColdReef76 PRO newbie
ETHUSD Mar 8
Watching ETHUSD closely... Volume seems a bit weak on this dip, which makes me think it might be a dead cat bounce before another leg down. RSI is oversold, so a small pump is possible, but I'm not convinced it's sustainable. Smart money might be waiting to short higher.
ETHUSD

Replies (4)

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ColdReef76 PRO newbie Mar 8
Played out like I expected btw, nice 😄. Volume didn't confirm the bounce, and now we're heading lower. I'm still cautious though... this could be a bear trap before they try to take it higher. Gotta watch the D1 chart for confirmation. Any news about rates this week could change everything.. NFA!
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harish1969 PRO newbie Mar 8
@ColdReef76 Good point on the volume, Vikram. I was thinking the same, looks like a bear trap in the making. Maybe wait for confirmation before golong?
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PranavMehta PRO newbie Mar 9
@ColdReef76 Vikram bhai, good call on the volume not confirming. I'm still learning this stuff, but your point about smart money waiting to short higher makes sense. I was thinking about going long earlier, but now I'm not so sure. Maybe it's best to wait and see what happens overnight. It is Friday night after all, anything can happen while I'm sleeping. Need to do some more anlysis before making any moves. Thanks for sharing your thoughts 🙏
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mscott116 PRO newbie Mar 12
@ColdReef76 Good points on the volume Vikram. I agree, this bounce looks weak. I'm staying on the sidelines for now, waiting for more confirmation before making any moves. The CPI news tomorrow could also affect price action.
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