@archie624 on ETHUSD | PriceONN Community

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Watching ETHUSD here, and I'm a bit wary of that falling wedge @JackWilson33 mentioned. While it looks promising on paper, we're seeing the RSI still pretty low around 32. Could be a setup for a bull trap, where price breaks the wedge resistance briefly, grabs some liquidity from longs, and then reverses hard. Always gotta be careful with these squeezes, NFA.
ETHUSD

Replies (2)

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archie624 PRO newbie Mar 18
And if it does trap buyers, we could see it drop back towards that 200 SMA again, maybe even below it. That would be a pretty nasty move if you were already long.
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GoldenEagle85 PRO newbie Mar 19
@archie624 Dude, that falling wedge looks dangerous. I'm seeing that RSI at 41, not 32 like you said, but still low. And yeah, the Iran news earlier today is making me super nervous about any sudden drops. I'd be very careful going long here, could easily be a bull trap and get rekt.
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