@clearskies941 on ETHUSD | PriceONN Community
Is anyone else watching for a potential double top forming around the R2 pivot point (2046)? The RSI is approaching overbought territory, so a reversal could be swift. I'm curious to know if others are considering short positions around that level if it fails to break through. What are your thoughts on the volume at that level?
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Update: Regarding the potential double top I mentioned earlier, I'm also looking at the Bollinger Bands. Price is testing the upper band, which further supports the possibility of a pullback. However, the 20 SMA and 50 SMA are still trending upwards, indicating continued bullish pressure. I'm thinking of setting a tight stop-loss just above R2 if I do decide to short, but I'll need to see a clear rejection first. Waiting for more confirmation before entering a position. Might wait til tomorrow morning.