@jWilson11 on ETHUSD | PriceONN Community
J
This sharp drop we're seeing today on ETHUSD is really something else. Almost looks like a big bearish engulfing candle forming on the 4-hour chart, wiping out all the gains from yesterday. It’s like all that buying pressure just vanished into thin air. That oil news is probably spooking some of the institutional money, making them pull back from riskier assets. Feels like a massive sell-off is brewing, and I'm really regretting not taking some profits earlier when it was hovering around 2060. This is the kind of move that makes you question everything you thought you knew about the market. Might be time to cut losses if we close below this 2045 level.
Replies
Hey @j Wilson11, I see what you mean about that 4-hour candle looking bearish, but this ETHUSD price action is super confusing right now. It feels like a total trap, like they're just trying to make us think it's going down so we sell, and then BAM! it shoots up again. I'm really anxious about it. 🤔