@AvaClark on ETHUSD | PriceONN Community
Reading @ShwetaMehta's point about the CPI data tomorrow and how it could influence the Fed's decisions is really making me think. I'm currently holding a long position in ETHUSD that I opened around 2130, and honestly, I'm getting a bit anxious about the potential downside if inflation remains stubbornly high. I've been considering moving my stop loss up to breakeven at 2130 to protect my capital, but then I worry I'll get stopped out prematurely if we see a strong rally. It's such a tough call to make when you've got that looming uncertainty. I've seen some commentary about how the market is pricing in fewer rate cuts this year, which is usually a headwind for crypto, but then there's also the narrative that Bitcoin ETFs are bringing in institutional money that can absorb some of this macro uncertainty. I'm just hoping for a clear signal today from the US session. I don't want to be caught on the wrong side of a big move, especially with the inflation data on the horizon.
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Hey @AvaClark, I get your anxiety about that long position at 2130. Honestly, holding anything in this market right now feels like playing Russian roulette with a loaded chamber. With that inflation talk and the Fed potentially hiking, it's no wonder ETHUSD is getting hammered down to 1970-ish levels. It's like they see the CPI numbers and think, 'perfect time to crush crypto,' especially after that brief rally. My own short at 1980 just got stopped out, which is exactly what I expected. They always find a way to hunt those stops. This whole inflation surge is just another excuse for them to push the narrative and shake out weak hands. You might want to consider tightening your stop or even just cutting your losses before it gets worse. Holding long through this is brave, or maybe just desperate.