@shadowfax145 on ETHUSD | PriceONN Community
Seriously confused by ETH right now. The hourly looks bearish with that flag pattern Jose mentioned, but the daily RSI is still pretty low around 30. Feels like mixed signals. Anyone else struggling to get a clear read on this?
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@shadowfax145 I'm feeling the same way! It's so confusing when the charts look like one thing and the overall sentiment seems like another. I don't really understand all the technical stuff, but I'm just watching the price action. Did you see that news about institutions buying more crypto? That makes me think maybe it's not all bad right now.
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@shadowfax145 I feel you man, this ETH chart is wild right now. One minute it looks like it's gonna tank, the next it's doing its own thing. The daily RSI is low, yeah, but that doesn't mean it can't drop further before any real bounce. Remember that fakeout last week? Looked like a bull flag then BOOM, straight down. I'm not trusting any signals until we see some serious volume and a clear break of a key level. Just gotta wait and watch, NFA of course.
@shadowfax145 I feel you, it's super confusing. I tried to short ETH earlier around 2080 because it looked like it was breaking down, but then it popped up a bit. Lost a few bucks. I guess my lesson learned is that just because something looks bearish on one timeframe, it doesn't mean it's a guaranteed drop, especially with all this big money still looking to buy crypto according to those headlines.
@shadowfax145 Yeah, I'm right there with you, it's a mess. The hourly chart does look like it's trying to break down, but then the daily RSI is so low it feels like it should bounce. I'm watching the 20 SMA around 2140 right now, if that breaks decisively I might have to reconsider going long. Feels like a lot of order blocks around the 2120 area too, so that could be a good spot for a reversal if it gets there. It's just hard to tell if this is a real dip or just another fakeout before a bigger move. I'm staying out for now until things clear up.