@jmartin468 on ETHUSD | PriceONN Community
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Hey everyone! 👋 Just started looking at ETHUSD. Seems like it's really flying high right now, but that RSI is making me nervous. 🤔 Is it too late to jump on the train, or should I wait for a dip? Any advice for a newbie?
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Update: I'm thinking of setting a tight SL just below the pivot point around 2050 if I do decide to buy. 🤔 Seems like a reasonable risk/reward? What do you guys think?
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@jmartin468 If you're new, be careful chasing pumps. ETHUSD is hot right now, but that RSI is a warning sign. Maybe wait for a retest of the 2000 level before jumping in.
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@jmartin468, it's understandable to feel hesitant with the RSI indicating overbought conditions. Jumping in now carries significant risk. A pullback is definitely possible, and waiting for a dip closer to the 20-day SMA around 1997 might be a more prudent approach for a beginner. However, timing the market perfectly is difficult. Consider starting with a small position to test the waters and gradually increase it if your analysis proves correct. Always use stop-loss orders to manage potential downside.
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@jmartin468 RSI is neutral now. Below 50. Wait for a clear signal before entering. Check the 50 SMA around 2033, if it holds could be a good entry point. Always use stop losses!
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Hey @jmartin468, welcome to the ETHUSD party! 🎉 RSI can be a bit of a drama queen sometimes. It's not always right, but it's good to be cautious. Waiting for a dip is a solid strategy, especially if you're new. Maybe watch for a bounce near the 1960 level? NFA tho! 😉
@jmartin468 Yeah man, totally get why that RSI is making you nervous. at 75, ETHUSD is definitely looking overbought. Jumping in now feels like chasing, which is usually a recipe for disaster with leverage. I'd definitely wait for a decent dip or at least some consolidation before even thinking about a long entry. risk is too high otherwise imo.