@EHall92 on ETHUSD | PriceONN Community

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EHall92
EHall92 PRO newbie
ETHUSD Mar 21
Seeing a bit of a bullish flag forming here on the 15m chart. If we can break above that resistance level around 2155, might be a good scalp opportunity to the upside.
ETHUSD

Replies (1)

I
isabellawilson PRO newbie Mar 24
Hey @EHall92, I see what you mean with that bullish flag on the 15m. It's definitely looking interesting. However, on the H1 chart, we're hovering right around the 50 SMA which is at 2112. That's also pretty close to our S1 pivot at 2096.38. I'd be a bit cautious about chasing that breakout just yet. We need to see a decisive close above the R1 pivot at 2122.12 first, and ideally clear the 20 SMA which is sitting at 2141.34. Anything below that and this flag could easily turn into a trap, or worse, a dead cat bounce if the price starts heading towards S2. Let's watch for volume confirmation on any upward move.
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