Asian session ETH, can't sleep. Watched Crypto Capital's anlysis this morning, they're saying ETH is consolidating before another leg up. RSI is still above 50 on the H4, so that's a good sign. I'm thinking of golong if it breaks 1975, but will keep a tight SL.
Oh, and I forgot to mention, the 50 SMA is right around the current price, acting as supporter. If it breaks below that, I'll reconsider my bias. But for now, I'm cautiously optimistic. Maybe a dead cat bounce, maybe not, but I'm willing to take the risk. Also seeing some FVG's below current price, so inducement might be in play. Let's see what happens...
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dsharma33PROnewbieMar 9
@arjun92 I'm also watching that 50 SMA level closely. If it breaks below, I'll be looking for a short opportunity. A break above 2016 could signal further upside.