@ejones261 on ETHUSD | PriceONN Community
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Saw a pretty interesting YouTube analysis earlier from that guy 'CryptoKing' – he was talking about how ETHUSD is forming this inverse head and shoulders pattern on the daily chart. He thinks it's a strong buy signal if we can hold above the 2150 support. He also mentioned looking at the DXY, which has been dropping a bit, and how that often correlates with crypto moving up. Said the geopolitical stuff might be creating a flight to 'risk-on' assets, which could benefit ETH. I'm not sure I trust the whole inverse H&S thing completely, but the correlation with DXY and the potential for a risk-on sentiment makes some sense to me. He's got a pretty decent track record, so I might keep an eye on that 2150 level. Not going to bet the farm on it though, maybe just a small leveraged position.
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That 'CryptoKing' guy is always hyping things up. I'd be careful about that inverse head and shoulders, @ejones261. The DXY is still a factor, and those geopolitical jitters could easily send ETHUSD lower, not higher.
@ejones261 that 'CryptoKing' analysis seems a bit optimistic given the current macro. The oil spike is definitely adding risk premium across markets. I'm watching for a potential dead cat bounce, NFA.