@ElizabethL26 on ETHUSD | PriceONN Community

And honestly, with the RSI being so high on ETHUSD, like 75.5 right now, I'm a bit nervous about going long even if I see a bullish hammer or something. It feels like it's just begging for a pullback. Plus, with that news about Australia warning about 'finfluencers', I feel like I should be extra careful not to chase pumps. Maybe I'll wait for a clear order block to form or for the RSI to cool down a bit. It's tough when you want to catch those fast moves but also don't want to get burned like a toasted marshmallow. Anyone else feeling this kinda indecisiveness?

Yeah, those bearish engulfing patterns are tricky. They look so convincing for a quick scalp, but then price just rips right through them. I think it's because of all the news lately, like that FVG stuff smart money leaves behind. Maybe we need to see a stronger displacement candle to really trust a reversal signal, especially with the US session being so active.

Hey @ElizabethL26, I totally feel your pain with the RSI signals! It's so tempting to jump in when you see those indicators, but then the market just does its own thing. I've been watching ETHUSD too, and this recent drop is making me rethink everything. That bearish engulfing pattern you mentioned around 2300 does look concerning, and even though the RSI was high, it seems like the bears are really in control now. It's tough to know when to trust those signals, especially with all the news creating so much uncertainty. I'm also a bit nervous about going long at these levels, it feels like catching a falling knife. Maybe we need to wait for clearer signs of a bottom or a confirmed trend reversal.

Hey @ElizabethL26, I hear you on those RSI signals being tempting. It's a classic beginner trap, wanting to jump on every indicator signal without considering the broader context. That 75.5 RSI you mentioned is definitely a warning sign for longs right now, especially with the clear bearish trend we're in. I wouldn't be looking to go long either until we see a significant shift. The price action around 2300 earlier today was indeed showing some bearish pressure, but as you noted, sometimes those patterns get invalidated quickly, especially with volatile news impacting things. My approach has been to wait for confirmed rejections at key resistance levels, like the 20-period SMA which is currently sitting around 2090. If we can't break back above that, I'm looking to add to my short positions, or initiate new ones if I'm not already in.