@osmith876 on ETHUSD | PriceONN Community
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ETHUSD just bounced off the S2 pivot point at 1958. RSI is still hovering in oversold territory though, so this bounce could just be a dead cat bounce. Watching to see if it can reclaim that 2000 level.
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Yeah @osmith876, saw that bounce off S2. Dead cat bounce is likely. RSI is oversold but that doesn't mean anything when the big boys are pushing it down. Forget 2000, I'm looking for a short entry if it even gets close. Full margin short here.
Yeah @osmith876, that bounce off S2 was sharp, but I agree, the RSI is still looking pretty weak. This feels more like a bear flag consolidation rather than a true reversal. I'm watching that 2053 R1 level closely. If it can't break through that convincingly soon, I expect we'll see price fall back towards the 2000 psychological level, maybe even lower.