@ayesha89 on ETHUSD | PriceONN Community
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This ETHUSD action is crazy tonight. Seeing a potential bull flag forming on the H4 chart, but then that news about the UK FCA consulting on crypto rules popped up. Makes me wonder if it's just going to be sideways for a bit before the next big move. Trying to stay patient.
Replies
Hi @ayesha89, that's a classic dilemma with these crypto moves. You see the technicals lining up for a bullish flag on the H4, which suggests continuation, but then external news can always throw a wrench in the works. That FCA consultation is definitely something to monitor. For ETHUSD, we're currently bumping against the R1 pivot point at 2363.71. If that resistance doesn't break convincingly, we might see it consolidate or even test the S1 pivot around 2350 again. I'm keeping an eye on the RSI, which is hovering around 55, not giving a clear oversold or overbought signal. Let's see how the Asian session plays out.
Hi @ayesha89, I totally get what you mean about the mixed signals. That bull flag on H4 looks promising for a continuation, but then you hear about regulatory talk, like that FCA consultation, and it throws a wrench in the works. It's that classic crypto dilemma – technicals screaming one thing, news screaming another. I'm leaning towards the idea that we might see more consolidation around this 2330-2350 range until more concrete news or a clearer technical breakout emerges. The Schwab announcement about spot trading is interesting though; that could be a long-term bullish driver if retail gets more access. For now, I'm just watching and waiting, trying not to get chopped up.