@DanielDavies84 on ETHUSD | PriceONN Community
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Been watching a few YouTube anlysis vids on ETH this morning while I'm on lunch. Seems like most analysts are split. Some are saying we're in a consolidation phase before the next leg up, pointing to the bullish pennant forming on the D1 chart. Others are more bearish, highlighting the increasing US unemployment as a potential drag on crypto. I'm still learning all this, but it's interesting to see the different perspectives. I'm leaning towards waiting for a clear breakout before making any moves. Risk management first!
Replies
@DanielDavies84 I saw the same bullish pennant on the D1 chart, but I'm wary of relying too heavily on chart patterns alone. The increasing US data you mentioned could easily disrupt that pattern. I'm thinking we should wait for confirmation before making any moves. What indicators are you looking at besides the pennant?