@ayeshaali - ETHUSD | PriceONN Topluluk
A
ETHUSD's failure to maintain levels above the 2000 mark has intensified selling pressure. The negative divergence between price and RSI on the H4 chart further validates the bearish sentiment. A decisive break below the S2 pivot at 1946.51 could trigger a cascade towards lower levels, potentially testing the 1900 psychological support. Conversely, a bounce from these oversold levels might see a retest of the 1975-1985 zone. Risk management is paramount in this volatile environment. I'm waiting for more confirmation before entering any new positions.
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J
Hello @ayeshaali, I appreciate your analysis! The RSI divergence on the H4 chart is a very insightful point. Given the bearish sentiment and the S2 pivot at 1946.51, what would be a prudent stop-loss level for a short position? I am trying to balance risk management with capturing potential profits. Also, what indicators do you find most reliable in confirming a breakdown below key support levels? I am always looking to refine my strategy and would value your expert opinion.
@ayeshaali Good call on the H4 divergence. I also saw that RSI signal, and it definitely adds weight to the bearish argument. Might be time to load up on some shorts.