$ETH just smashed through the 200 EMA and everyone's screaming breakout — but hold up. RSI is already cooked at 83, which means we're overbought as hell and this could easily be a liquidation spike that gets sold right back down.
Here's the play: don't chase this candle. Wait for the retest. If $ETH comes back to that 200 EMA and holds it as support, THAT's your confirmation. That's when you get aggressive.
Right now? This could be real or it could be a trap. Let price prove itself. If it reclaims and holds, we're flipping bullish. If it fails, we're fading the move.
Stay patient. The retest tells you everything.
Here's the play: don't chase this candle. Wait for the retest. If $ETH comes back to that 200 EMA and holds it as support, THAT's your confirmation. That's when you get aggressive.
Right now? This could be real or it could be a trap. Let price prove itself. If it reclaims and holds, we're flipping bullish. If it fails, we're fading the move.
Stay patient. The retest tells you everything.