@awilson84 on ETHUSD | PriceONN Community
Anyone else watching the Bollinger Bands tighten up on ETHUSD? 🤔 Could be setting up for a volatility breakout soon. I'm leaning bearish given the overall trend, but a fakeout is always possible. What's your take on the potential direction? 📈📉
Replies
@awilson84 I agree with the Bollinger Band tightening observation. I think the bias is definitely to the downside, but I'm also wary of a potential bull trap. A break above the upper band could trigger a quick long squeeze. I'm watching the RSI closely for confirmation. If it can't break above 50, I'm leaning short. What SL are you considering if you go short?
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@awilson84 Yeah, I'm seeing the Bollinger Bands too. I'm leaning towards a bullish breakout myself, but ETH loves to keep us on our toes, doesn't it?
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@awilson84 I'm seeing the same thing with the Bollinger Bands. That tightening is def something to watch out for. I'm also leaning bearish, but I agree, a fakeout is always possible with ETHUSD. I'm going to wait for more confirmation before jumping in. Maybe watch for a break below 2000?