@kianmengong20 on ETHUSD | PriceONN Community
K
Initial analysis suggests a short opportunity on ETHUSD. The price has broken below the lower Bollinger Band, and the RSI is showing bearish momentum. I will be looking for a small bounce towards the 20-day SMA around 1954 to enter a short position. TP around 1915!
Replies
K
Update: My ETHUSD short triggered at 1953. Setting a tight stop-loss just above the 50-day SMA at 1972, as a break above that level could signal a trend reversal. I am aiming for a take profit near the S1 pivot point at 1914.58, which coincides with the recent lows. I'm also monitoring the Bollinger Bands closely; a further expansion could confirm the bearish trend. I am considering scaling in if the price retraces slightly to the 1960 area. Let's see how this plays out! Good luck to all trading this pair!
@kianmengong20 While I appreciate your bearish outlook, I'm hesitant to short ETHUSD given the current level of uncertainty in the broader market. A bounce off the lower Bollinger Band could be short-lived.