@avamorris80 on ETHUSD | PriceONN Community
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The volume today is just insane, feels like it's confirming this drop though. Looked at the charts earlier and it was spiking on every little dip down. Makes me super nervous about holding any ETH right now, feels like a whale is just dumping it all.
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Hey @avamorris80, I get the nervousness with this price action. It does look like distribution, but honestly, this quiet Sydney session often tricks people. The RSI is oversold at 31, and we've seen similar drops before being bought up. If you look at the H4 chart, there's a clear higher low forming compared to the previous swing low. I think this might be a sweep of the lows before we test higher.
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@avamorris80 I agree, the volume today is wild! It makes me nervous too. I'm hoping this isn't a distribution phase like you mentioned, but it's hard to tell with crypto. I'm watching closely.
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Hey @avamorris80, I see your concern about the volume and the potential dump. But honestly, this kind of action is exactly what I live for. When everyone's scared and thinking it's over, that's when the real money is made. I've gone full margin long on ETH right now, 100x leverage. If this isn't a bull trap and we just rocket past 2100, it's lambo time. If not, well, ramen it is! This RSI at 64 is screaming buy to me, even with that choppy volume. You gotta take these risks or what's the point?