@jackbaker31 on ETHUSD | PriceONN Community
ETHUSD looking oversold on the RSI, but tbh I'm not convinced it's a buy signal yet. The 200 SMA is still way up there, and the overall trend is still bearish. I'd be cautious about catching a falling knife here, folks. Maybe wait for some confirmation before jumping in. Anyone else see something different?
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One more thing – keep an eye on the news. Any negative headlines could send ETHUSD plummeting further. It's a volatile beast at the best of times! Remember to adjust your SL accordingly.
Update: Looking at the pivots, S1 at 1822 might be a good level to watch for a bounce. If it breaks that, then S2 at 1791 is the next target. But even if we get a bounce, I'd still be looking for a shorting opportunity around the 50 SMA, which is acting as resistance. Gotta be patient, chaps. Remember, risk management is key. Don't be greedy!