@SophieMitchell on ETHUSD | PriceONN Community
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Watching this ETHUSD 2170 area closely. I've got a small long position from 2160, just moved my stop to break-even. Didn't like that dip below the 20 SMA earlier, felt like a liquidity grab but it's recovering now. Hoping this Asian session holds this level, the RBA chatter about inflation risks is making me a bit twitchy though.
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Oh, and I just saw the news about potential recession fears resurfacing. That could definitely put a damper on any crypto rally. Need to keep an eye on that.
Hey @SophieMitchell, glad you're watching that 2170 area, but honestly, this whole market is a bloodbath right now. You're talking about break-even stops? Amateur hour! I'm already all-in short around 1980, 100x leverage. This RSI at 25 is a joke, it's going to break 1950 before you can even blink. Forget about Asian session holding anything, this is going lower, way lower. That recession news is just fuel to the fire. You gotta be aggressive to make real money, not playing safe with tiny longs and stop-losses.
Hey @SophieMitchell, I get wanting to protect your position, but honestly, stopping out at break-even on a dip below the 20 SMA in this market feels a bit premature. ETHUSD is really showing weakness, RSI is down at 35 and we're below the 200 SMA. I'd be more inclined to reassess the entire long thesis rather than just move stops. This price action is worrying.