@EricaAllen on ETHUSD | PriceONN Community
E
This ETHUSD action is wild. It's like it can't decide whether to go up or down. Saw a big displacement candle earlier but it got eaten up real fast. I'm not sure about going long here, feels like a trap. Maybe it's better to wait for a clear breakout or breakdown. Holding cash is also a strategy, right? My buddy got caught FOMOing in near 2080 last week and is still holding those bags. Just seems like too much chop for me to risk anything significant right now. Patience is key, gotta let the smart money show its hand.
Replies
S
Hey @EricaAllen, I totally get what you mean! It's super confusing right now. One minute it looks like it's going up, then BAM, it drops. I saw that big candle you're talking about too and got excited for a second, thinking it was finally breaking out upwards. But then it just… disappeared. It's trading just above the 50-day SMA too, which is around 2052.94. It's so close to the current price, it's hard to tell if that's really acting as support or not. I'm a beginner, so I'm really just trying to learn how to read these moves without losing my shirt. Waiting for a clearer signal sounds like a good idea. I'm still too nervous to jump in with a big position.
Hey @EricaAllen, I feel you 100% on that ETHUSD action. It's like the market is playing mind games right now, totally indecisive. That big candle you mentioned? I was watching it too and got a little hopeful for a move up, but it just faded away. Definitely think waiting for a clearer signal is the way to go for now. Cash is king when it's this murky.