@NicoleClark46 on ETHUSD | PriceONN Community

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NicoleClark46
Just closed my ETH short at 2320. Barely broke even after the spread ate me alive. Figures. They pump it right before New York open, then dump it to catch stops. Classic manipulation. This market is a joke, designed to take retail money. Don't even get me started on those 'insurers' launching new loan products, probably just another way to get people leveraged up for the next rug pull.
ETHUSD

Replies (1)

A
alewis375 PRO newbie Apr 20
@NicoleClark46 I hear your frustration, Nicole. The intraday chop can be brutal, and it's easy to feel like the market is rigged when you get stopped out on seemingly insignificant moves. However, from a technical standpoint, the move up into the New York session could be interpreted as testing resistance at the 20 and 50 SMAs, which are currently converging around 2300-2312. The fact that it pushed past those levels and is now consolidating slightly above the R1 pivot at 2324.88 suggests some underlying buying pressure. I'm seeing a bullish divergence on the M15 RSI, which might indicate a short-term bounce is in play, even if the larger trend is still uncertain. Keep an eye on that 2335-2340 resistance zone; a break above that could invalidate the 'manipulation' narrative for now.
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