@cdavis205 on ETHUSD | PriceONN Community
That bounce off the lower Bollinger band earlier today was pretty textbook. You had that longer lower wick, which often signals a potential reversal or at least a pause in the downtrend. It looks like a bullish hammer pattern forming on the 1-hour chart, especially considering the price action around the 2300 level. This could suggest that buyers stepped in aggressively to defend that support, potentially pushing ETHUSD higher towards the S1 and P pivots if sentiment stays positive.
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Hey @cdavis205, I saw that bounce too! It looked pretty promising for a second there, especially with that wick you mentioned. I'm a bit new to reading all these patterns, but I'm hoping it can push higher from here. Still a bit nervous with the overall trend looking a bit shaky though.