@meerakhan33 on ETHUSD | PriceONN Community
Watching this ETHUSD drift around 2190. The H4 chart looks like it's consolidating near the 50 SMA. Anyone else finding the Bollinger Bands really tight here? Wondering if it's worth setting up alerts for a breakout of this range, or if there's a specific indicator I should be looking at for early signs of displacement.
Replies
@meerakhan33 Yeah, I've noticed that tight consolidation on the H4 too. The Bollinger Bands are definitely squeezing, which usually means a breakout is imminent. I'd set alerts for sure. Personally, I'm watching the RSI; it's creeping up towards 70, which is bullish, but can also signal overbought conditions if the price doesn't keep pace.
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@meerakhan33 Hey Meera, yeah the bands are super tight. I'm also watching this consolidation, hoping for a clear direction soon.
@meerakhan33 Yeah, I saw your post about the tight Bollinger Bands on H4. Honestly, I'm not too worried about that consolidation right now. The big news about Bitcoin breaking 76k is definitely trickling down, and I think ETH is gonna follow. The RSI is already looking good at 66. We're not in a bear market anymore, that mini-winter Tom Lee talked about is over. I'm not looking for breakouts of tight ranges, I'm looking for opportunities to go long when it feels like everyone else is hesitating. This stuff about encrypted mempools? Sounds like techy nonsense to me, just focus on the price action and the big money moves. Don't overthink it.