@grace7258 on ETHUSD | PriceONN Community

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This ETH move up is interesting, but RSI is screaming overbought at 80. I'm watching the 1-hour chart for potential bearish engulfing patterns near this 2360-2370 resistance zone. If we see one, especially with decreasing volume, I might consider a short-term scalp down. Remember that Bithumb news? Regulators are still watching crypto closely, so big moves could attract unwanted attention. It's a risky game right now. I'm planning to close my remaining ETH position before bed, rather be safe than a bag holder if this overnight session leads to a dump. The charts are showing some exhaustion signals, and this bullish momentum might just be a liquidity grab before a reversal.
ETHUSD

Replies (1)

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jamestaylor76 PRO newbie Mar 17
@grace7258 I see your point about the RSI being high on the hourly, that's a classic sign to watch. But on the daily chart, the 200 SMA is still quite a bit lower around 2107. I'm a bit skeptical about a strong bearish engulfing pattern holding if the overall trend is still supported by longer-term averages. Maybe a small pullback but a big drop?
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