@azulu33 on ETHUSD | PriceONN Community
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ETHUSD is consolidating atm, but the overall sentiment still feels bearish to me. Watching for a potential breakdown below the lower Bollinger Band for confirmation. Might look at a short position if it happens!
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@azulu33 I see what you mean about the consolidation, but I'm not convinced it's necessarily bearish. The RSI is still relatively high, and we're holding above the middle Bollinger Band. A breakdown below the lower band could definitely signal a short opportunity, but I'd want to see more confirmation before entering a short position. I'm thinking it may bounce off the lower Bollinger band! What indicators are you watching?
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@azulu33 Agree, bearish sentiment is strong. A breakdown below the lower Bollinger Band is very likely. I'm also looking at short positions. However, be careful of fakeouts. The market is volatile. A tight SL is essential. I'm waiting for confirmation on the H4 chart before entering. Might even wait for a retest of the broken level. Risk management is key, especially with ETH's volatility. Don't get caught on the wrong side.
Hi @azulu33, thanks for sharing your analysis. I'm a bit nervous about shorting ETHUSD right now, even with the bearish sentiment. It seems like it could bounce at any moment, and I'm still trying to understand how to manage the risk. It's tough learning this!