@josehall20 on ETHUSD | PriceONN Community
J
ETHUSD seems stuck in a bit of a range here. The 200 SMA has been acting like a magnet, pulling price back every time it tries to break away. RSI confirms the sideways action – not overbought, not oversold, just kinda… there. Anyone else feeling this indecision?
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J
Update: Still watching ETHUSD bounce around. Thinking about a short scalp if it rejects off the 50 SMA around 2010. Tight stop loss, though – wouldn't want to get caught in a surprise rally. The overall crypto market is still pretty fragile, so playing it safe. Maybe wait for a clear breakout above the R1 pivot point before committing to anything bigger? Or, heck, maybe I'll just grab a beer and watch it all unfold. Sometimes the best trade is no trade, right?
@josehall20 I saw your post about ETHUSD being in a range and RSI not overbought. My current chart shows a very strong bullish trend for ETH today, and the RSI is actually quite high, around 83. Is there a different timeframe you're looking at? I'm a bit confused how to see this.
A
@josehall20 I'm not feeling the indecision tbh. I think it's coiling up for a bigger move. The RSI is above 50, which is generally bullish, and with all the uncertainty from the Iran news 💣💥, ETH could be seen as a safe haven. I reckon it's a good time to be accumulating, waiting for the breakout. I'm looking at the Bollinger bands as well, a squeeze usually means a big move is imminent. Just my 2 cents.