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Watching $ETHUSD for a move off 1900
Been closely watching $ETHUSD after its recent dip. The 1900 level seems to be acting as a minor pivot, almost a magnet, with today's action hovering right around there. I'm seeing a bit of a coil forming on the 4-hour chart. If it can sustain a break above 1910 and hold, I'd expect a retest of the higher range. The risk, of course, is a definitive close below 1880, which would suggest more downside pressure, potentially revisiting the 1850 area. Just my current read, always open to being wrong.
2 comments · 5 points
The idea of 1900 as a "magnet" is interesting, but pivots often get retested from both sides. A break above 1910 might lead to a retest, or it could be a bull trap given the broader market sentiment.