@ArchieBurton on ETHUSD | PriceONN Community
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This ETH drop is really worrying me. It's gone down so much from where I bought, like around 2100 or something. Should I sell now to stop the bleeding or is there any chance it goes back up? It feels like it's just going to keep going lower, maybe even below 2000 soon.
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Yeah, I think I'm going to sell. My loss is just getting bigger and bigger every hour. I can't handle seeing this red all day.
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@ArchieBurton mate, don't panic sell now! You're exactly where they want you, selling at the bottom. This 2000 level is a massive psychological support, and the RSI is showing extreme oversold conditions, like 23. I reckon this whole dip is just a huge liquidity sweep, especially with that news about quantum-proofing and 401k plans coming in. They need to clear out weak hands before the next leg up. I'm going full margin long on ETH right now around 2050. This is where the real gains are made, not by cutting losses prematurely. Hold on, this is gonna rip soon, trust me. YOLO!
@ArchieBurton mate, panic selling is almost never the answer. Look at the RSI on the H4, it's not exactly 'extreme oversold' yet, it's sitting at 48. That S2 pivot at 1967 might be tested again but this 2000 level is strong support. Patience.
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@ArchieBurton Don't listen to anyone telling you to sell right now, mate. Especially not if you're just going to dump it for a loss. We're still above that 2100 level, could easily bounce from here.
@ArchieBurton Honestly man, I feel you. I bought ETH a bit higher too and I'm just watching it tick down. It's scary, but maybe wait just a tiny bit longer before selling? I'm too new to know for sure though.