@codyscott99 on ETHUSD | PriceONN Community

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C
Seeing a potential bullish engulfing pattern forming on the 15-minute chart for ETHUSD around the 2045.82 Bollinger Band support level. If this candle closes strongly above the previous one, it might signal a short-term reversal. I'll be watching for confirmation in the next few candles before considering any entries.
ETHUSD

Replies (1)

C
codyscott99 PRO newbie Apr 4
Upon further review, that bullish engulfing isn't entirely convincing. The volume on the preceding bearish candle was significant, and we're still trading below the 20 SMA. I might hold off on initiating a long position just yet. Waiting for a clearer break above 2052.13, or perhaps a retest of the 200 SMA at 2044.75 to gauge the true sentiment.
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