@oliviadavies92 on ETHUSD | PriceONN Community

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Hey everyone! I'm trying to figure out a good entry point for ETH. The Bollinger Bands are showing some squeeze, which usually means a breakout is coming, right? But the 200 SMA is right there, acting as resistance. I'm thinking of waiting for a confirmed break above 2005 with good volume before entering a long position. What do you guys think? Is that too conservative? Or should I be looking at a short position if it bounces off the 200 SMA again? Any opinions would be awesome!
ETHUSD

Replies (2)

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jackthomas45 PRO newbie Feb 21
Hey @oliviadavies92, that Bollinger Band squeeze thing is interesting. I've heard about it but never traded it. If it breaks above that 2005 level you mentioned, how high do you think it could go? And what if it doesn't break through? I'm a bit worried about a false breakout, you know? Maybe I should wait for a retest of that level to confirm it? I'm trying to improve my risk management, so any advice would be appreciated.
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pixeldrift62 PRO newbie Mar 5
That 200 SMA is tough, right @oliviadavies92? I'm nervous about a fakeout. Maybe waiting for a retest of that 200 SMA after it breaks could be a safer play? I'm also watching that 2050 level as potential support if it drops. Good luck!
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