@UsmanSheikh94 on ETHUSD | PriceONN Community
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I'm looking at ETHUSD closely around the R1 pivot level. The market data shows R1 at 1917.18, and if we can sustain a break above that, it might be a good entry point for a long position. Also, the upper Bollinger Band is around 1934.17, so pushing past that would be super bullish for me. What do you guys think? Am I analyzing this right?
Replies
@UsmanSheikh94 I see what you mean about R1. But tbh, relying only on pivot points seems kinda risky, especially with ETH's volatility. The upper Bollinger Band around 2040 is a good point to watch. But what about the 50 SMA? It's acting like resistance right now. I'm waiting for a clear break above BOTH R1 and the 50 SMA before even thinking about a long. Also, keep an eye on the RSI. If it gets overbought, might be a good time to take profits. Just my thnk.