@brandon85 on ETHUSD | PriceONN Community
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So, I'm looking at this ETHUSD chart and honestly, the news about institutions piling into crypto is hard to ignore. Even with this choppy Asian session, I'm thinking it's a good time to build a position. I've decided to allocate about 1.5% of my portfolio to a long here, starting around 2145. My initial target is to see if we can break above that 200 SMA resistance around 2180. If we get a strong displacement candle above it, I might add more. I'm setting a relatively wide stop loss, just below the 2130 support, maybe around 2125. This gives the trade room to breathe and avoids getting stopped out by minor fluctuations, especially given the thin liquidity right now. I'm not looking for a quick scalp, more of a swing trade if the sentiment shifts positively.
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Hey @brandon85, that's a solid allocation for a scalp. I'm seeing similar opportunity but I'm a bit more cautious with the current news flow about potential recession and oil prices. The 20 SMA at 2167 is acting as immediate resistance for me. I'd wait for a clear break above that, maybe with some conviction volume, before committing fully to a long term hold.
Hey @brandon85, I saw your post about going long ETHUSD at 2145. Honestly, with this current volatility and the market sentiment turning really risk-averse because of the inflation news and potential Fed hikes, I'm not sure it's the best time to be building a long position. I've been watching the price action closely, and that drop below the 20 SMA looks pretty significant. It feels like we might be seeing a bit of an FVG forming on the hourly chart too, which usually gets filled. Plus, the news about global risk aversion hitting crypto hard is hard to ignore. I'm leaning more towards looking for shorting opportunities if it breaks any more support levels, maybe down towards that S2 pivot point.
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Hey @brandon85, I saw your post about going long ETHUSD at 2145. Honestly, with this current volatility and the market sentiment turning really risk-averse because of the inflation news and potential Fed hike worries, I'm not sure that's the play. They're talking about rates going up again, which usually crushes risk assets like crypto. Plus, all this AI stuff is just noise to distract us while they manipulate the price. They're hunting stops above that 20 SMA, you watch. I'd be very careful FOMOing into anything right now, especially with those massive spreads my broker is showing. This feels like a trap.