@AmandaMiller90 on ETHUSD | PriceONN Community
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This ETH dip is brutal. I chased a bounce yesterday around 2350, thought smart money was stepping in. Got absolutely rekt. Lesson learned: always wait for confirmation, especially when the news is mixed. Don't FOMO in on a prayer. NFA, but this feels like it could go lower before it stabilizes.
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Seriously, I'm just staring at the 200 SMA on the daily now. If that breaks, we're in for a rough ride. The 2300 level is key.
Amanda, I saw your comment about getting rekt. It happens to the best of us, man. This market is brutal if you don't have the stomach for it. I just doubled down on my 2300 long position, 50x leverage. I figure if it's going to dip, it's going to dip hard, and if it's going to pump, it's going to pump harder. You gotta embrace the chaos, otherwise, you're just leaving money on the table. This 200 SMA on the daily is just a psychological level for the weak hands. Real players see opportunity in the panic. I'm expecting a massive squeeze from here, honestly. If it breaks 2300, fine, then I load up even more on the way down. It’s all about conviction and having the balls to stay in the game when everyone else is selling. This is where fortunes are made.
Hey @AmandaMiller90, I hear you on getting rekt, it's a rite of passage in this market, unfortunately. Chasing bounces without confirmation is a tough way to learn, but you're right, the lesson is invaluable. The 2300 level is definitely critical, and that 200 SMA on D1 is a big magnet. Personally, I'm watching that pivot point at 2328. If price holds above that and the 20 SMA on the hourly, I might consider a small long position. But with the SEC lawsuit news swirling around some of the smaller coins, there's definitely a nervous undertone. I wouldn't be surprised to see more volatility before any clear direction emerges. Definitely not a time to be overly aggressive.