ibankbitcoins

Ethereum price movement and update. Bearish

POLONIEX:ETHBTC   Ethereum / Bitcoin
A short update on ethereum             prices.

Ethereum             price has dropped by a good margin and people are plenty bullish . Look at the price action now. Does it look like a bottom? It kind of does with a massive support around 0.023, previous lows. Is there much panic selling? Some, but still low volume . However, the difference is that we are drifting down to these levels where as previously, it was a panic spike down. I am afraid to say this but when people FOMOed hard between the bitfinex ETH ramp, homestead and WSJ article, price movement will equally push to the opposite extreme. Price action is not there yet, volatility is still on the low side (compared to previous weeks). I think a price move on a large red bar with volume will convince me that the bottom is near. But not now.

Disclosure, I have been bearish and short at around 0.027 level. I trade on what I think, not to justify my trade.

I post live trades on twitter and my blog, follow me and my time-stamped trade performance at ibankbitcoins.com @ibankbitcoins
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out