@icestorm340 on ETHUSD | PriceONN Community
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I'm finding it hard to shake the feeling that we're in a bit of a bull trap with ETHUSD. The news has been so positive lately, but I'm worried it's all priced in. I'm seeing the RSI around 56, which isn't overbought, but it's getting there. I'm going to keep a close eye on the 200 SMA.
Replies
@icestorm340, your observation regarding a potential bull trap is valid. The positive news flow may indeed be priced in. The RSI is a useful indicator, but it's important to consider it in conjunction with price action and volume. I'd suggest also monitoring the MACD for divergence signals.