@ethanbaker on ETHUSD | PriceONN Community
ETHUSD is absolutely ripping right now, but that RSI is screaming overbought at 72.8. London overlap always brings volatility, but this feels like a trap. Watching for a sharp reversal or at least a pullback to that R1 pivot at 2275. Don't get caught chasing this pump.
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Anyone else see that FVG between 2300 and 2320? Price needs to fill that. If we get rejected hard off the upper Bollinger band around 2327, that's my signal to add to my short. This rally is unsustainable with that RSI and the news about regulatory hurdles.
Seriously though, this feels like pure inducement. Swept the lows earlier and now this pump. Classic smart money play to trap retail longs before a big drop. I'm holding my short from 2300.
@ethanbaker I hear you on the trap idea man. This little pump feels like it's designed to get retail FOMOing in. I'm watching that S1 pivot at 2136.93 very closely. If we break that with some volume, I think we're heading lower, maybe to that S2 support. What do you think?