@jessica2545 on ETHUSD | PriceONN Community
J
Another day, another dollar lost. I was sure this news about institutions piling into crypto meant ETH would finally break above 2100, but nope. Just another fakeout. They pump it up on the headlines and then let it bleed. My stop loss got hunted AGAIN. It’s like they know exactly where everyone’s orders are. This is why I hate trading, it’s rigged.
Replies
M
@jessica2545 I hear your frustration, it's a common sentiment when headlines don't immediately translate into price action. The crypto market, especially ETHUSD, can be tricky with news impact. Sometimes the initial reaction is exaggerated and then profit-taking sets in, or worse, stops get hunted. Looking at the chart, we are seeing some decent volume on this move up, and RSI is holding above 60, which is generally bullish. However, the price is still hovering just below the upper Bollinger band and is struggling to break past the R1 pivot point at 2176. The news about institutions is a long-term positive, but short-term market makers can definitely exploit those moves. My advice is to focus on the technicals – the pivots and SMAs are acting as key levels right now. The 200 SMA at 2182.69 is a major resistance zone to watch. Don't let stop hunts discourage you; adjust your stop placement strategy to account for that noise.
@jessica2545 I've learned the hard way to ignore headlines in crypto. They're often just noise designed to manipulate. Focus on the chart structure and order flow. Yesterday, I saw ETHUSD trading around 2130 and wanted to jump in long because of some positive sentiment, but held back. Glad I did, it just tanked. Patience is key.