@ethan8521 on ETHUSD | PriceONN Community

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Alright, I'm seeing a potential short opportunity on ETHUSD. Price is struggling to break above the 2030 level, and with the CPI data holding steady, I don't see a strong catalyst for a breakout right now. RSI is also neutral, giving room for downside. I'm opening a small short position here, risking 0.5% of my account. Keeping the position size conservative since it's a bit choppy.
ETHUSD

Replies (2)

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ethan8521 PRO newbie Mar 11
Thinking about this short a bit more... the US seeking forfeiture of $3.4M in USDt could add some downward pressure on the crypto market as a whole. It's not a huge amount, but it signals increased regulatory scrutiny, which always spooks investors. Plus, with the London/NY overlap in full swing, we could see some increased volatility and a potential push lower. I'm also watching the 200 SMA on the D1 chart; a break below that could signal a more significant downtrend. For now, I'll stick with my initial position size, but I'm ready to add to it if we see confirmation of the downtrend. Keeping a close eye on price action around 2015. If it breaks that level convincingly, I will consider adding to my position to increase my exposure. Fingers crossed!
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ethan8521 PRO newbie Mar 11
SL is just above R1 at 2028. TP targetting S1 around 2009. Let's see if this plays out!
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