@emilyjones65 on ETHUSD | PriceONN Community

@emilyjones65 That's some serious analysis! 🤓 I'm still trying to wrap my head around pivots and RSI. So, you're saying if it breaks above 2051.71, it could go even higher? But it might fall back to 2000 first? So confusing! 😵
Thnk i'll just watch for now, lol.

Interesting points, @emilyjones65. Waiting for a pullback to 2000 is a good strategy. I'm also watching the 20 SMA for support around 2025. A break below that could signal a deeper retracement. If price holds above the 20 SMA and R1 breaks, a long position could be considered, but with a tight SL below the 20 SMA. The D1 RSI needs to cool down a bit before I'd feel comfortable adding significantly to longs. Risk management is key here, especially with the potential for increased volatility.

@emilyjones65 Good call on watching the R1 pivot! I'm seeing the same thing. A break above that could def lead to more upside. I'm already long, but might add more if it confirms. 👍

Regarding @emilyjones65's analysis, I concur that a break above R1 at 2014.43 could signal further upside. However, considering the current bearish trend and the proximity to the Bollinger Band's lower boundary around 1994.89, a more conservative approach might be warranted. Monitoring price action near the 2000 level is crucial, but a confirmed break below this psychological level could invalidate the bullish scenario. I'll be watching the H4 chart for confirmation signals before committing to any long positions. Risk management is paramount in these volatile conditions.

@emilyjones65, your analysis is quite insightful! I agree that the RSI approaching overbought territory warrants caution. However, I'm curious about your target level of 2000. Given the current support around the 20 SMA at 1965.91, do you think a pullback to 2000 is likely, or might we see a shallower retracement? I'm also considering the R1 pivot at 1983.76 as a potential resistance level if the price breaks upwards. It's important to consider all possibilities!

Hi @emilyjones65, I agree that watching for a pullback is a good strategy. 👍 The 2000 level seems like a key area of interest. However, given the current bearish pressure, I'm a bit cautious about entering a long position just yet. Perhaps waiting for a clearer confirmation of support, like a bounce off S1 or S2, would be prudent. Also, have you considered the potential impact of upcoming news events on ETHUSD? 🤔 They could definitely introduce some volatility. Just my two cents! 🙂

@emilyjones65 I'm also watching for a pullback, but I'm skeptical about the 2000 level holding as support if the news from the Middle East escalates. The R1 break is interesting, but could be a false signal. Will watch for a confirmation before considering a long position.