@mdesai785 on ETHUSD | PriceONN Community
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Watching the ETHUSD Asian session here, and it's been a rough ride. Saw a bearish engulfing pattern on the 15-min chart just now, confirming that sharp drop. RSI is deep in oversold territory too. Given the overall market sentiment and that wholesale prices are still showing inflation, I'm not seeing a quick recovery here.
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Hey @mdesai785, I saw your comment about the bearish engulfing. That drop was scary, I agree. I'm also a bit worried because I just opened a long position, hoping for a bounce. Honestly, the news about those crypto exchanges facing lawsuits, like Gemini, makes me a bit nervous about the whole market right now. It feels like there's a lot of uncertainty out there. I’m watching that 2140 level closely. If it breaks below that, I might have to cut my losses quickly.
Hey @mdesai785, I saw your comment about the bearish engulfing. That drop was scary, I agree. I'm also a bit worried because I just opened a long position, hoping for a bounce. Honestly, the news about institutions pouring into crypto is making me second guess though. 😬
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Hey @mdesai785, I saw your comment about the bearish engulfing. That drop was scary, I agree. I'm also a bit worried because I just opened a long position, hoping for a bounce. Honestly, the news about institutions piling into crypto is what made me think it was a good time. But this price action... it just feels like a setup. Like they're letting it bounce a little just to grab more stops before another leg down. Always gotta watch those fakeouts, right?