@elizabethnelson on ETHUSD | PriceONN Community
Honestly, this whole ETHUSD situation feels like a setup. They let it hover around 2050, almost teasing a recovery, and then BAM, another dip. It's classic whale manipulation. The fact that it's struggling to stay above the 200 SMA on H4 is suspicious. They're probably just shaking out retail before the real move, whatever that is. Don't trust it.
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And that 200 SMA at 2046 is looking like a magnet for price right now, but it's also where the bears seem to be digging in. If we can't get a solid break above 2060 soon, especially with that choppy action, I suspect another test of those lower pivot points is inevitable. This consolidation is just delaying the inevitable drop.
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Morning all. Yeah @elizabethnelson, I see what you mean about the 2050 area being a bit of a trap. Feels like we're just consolidating in this low liquidity Sydney session. RSI is still holding bullish territory though, so I'm watching the 2060-2065 range for a potential breakout opportunity. If we can get above the R1 pivot cleanly, might look to enter a swing long.