@jack02 on ETHUSD | PriceONN Community
This whole choppy action around 2080 feels eerily familiar. Remember that dip we had back in February? It looked just like this for a couple of days before it absolutely exploded upwards. I'm watching to see if this is another one of those trap setups before a big move.
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Actually, on second thought, that February move was preceded by a much cleaner RSI divergence on the H4. Right now, RSI is just sitting around 40, which isn't screaming 'oversold' or anything. It's more like indecision. So maybe this isn't a perfect repeat, but the price action *feels* similar. Still, I'm hesitant to just jump in long without a clearer signal. The risk of getting chopped up is way too high if this isn't the real bottom.