@lily2560 on ETHUSD | PriceONN Community

Hey @lily2560, I saw your comment about that bearish engulfing on H4. I agree it looks a bit suspect, but honestly, this whole market feels rigged lately. That RSI at 25 is screaming oversold, which usually means a bounce is due, but then again, they love to push it even lower to catch those retail stop losses. I'm watching the 2055 pivot like a hawk – if that breaks, then yeah, maybe your pattern has legs. But I wouldn't be surprised if this is just a shakeout before another move higher, especially with that quantum stuff coming out about ETH being more resistant than BTC. They probably want to manipulate us into thinking it's dead before the real rally. It's always something with these guys, trying to trick you at every turn.

Hey @lily2560, I see what you're saying about the bearish engulfing pattern on the H4 chart near the upper Bollinger Band. It's a valid observation, and typically that confluence of signals would warrant caution. However, I'm looking at the daily chart, and the RSI is actually sitting around 61, which is still in healthy bullish territory, not oversold as you mentioned for H4. We also have strong support from the 50-day SMA around 2078 and the P pivot at 2121. My strategy here is to look for entries on minor dips, perhaps around the 20-day SMA at 2116, assuming the overall bullish momentum holds. The key will be whether that H4 pattern actually plays out or if it's just a temporary pause before the next leg up. I'm keeping a close eye on price action around the 2130 resistance level.