@arjun92 on ETHUSD | PriceONN Community
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ETHUSD looks like it's taking a nosedive today. RSI is below 40, and the bears seem to be having a field day. Might be a good chance to short if it breaks below 1920 support. Time to make some moolah!
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Update: ETHUSD did break below 1920. Now eyeing 1900 as the next target. Let's hope this downtrend continues, fingers crossed! I'm already in profit.
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Hmm, @arjun92, are you sure about shorting ETHUSD? I see the RSI is above 50 now, and the price is above a couple of SMAs. Doesn't that mean it might go up instead? I'm still trying to get my head around all the indicators and how they work together. Maybe it's just a temporary bounce, but I'm a bit worried about shorting when it seems to be going up. Maybe I'm reading it wrong tho lol.
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@arjun92 I see what you mean about the nosedive! RSI definitely supports a short bias, but I'm a little wary of that 200 SMA around 1956 acting as support. If it breaks below *that*, then yeah, shorting to 1920 looks pretty good. But if it bounces, might be a fakeout? I'm personally waiting for more confirmation before entering a position. Gotta be careful with these volatile moves. What's your SL looking like if you short?
@arjun92 Nosedive is right! I see the RSI is pretty low. Do you reckon it could get oversold soon, or is there more room to fall? I'm a bit nervous about shorting right now, seems risky with it already down so much.