It looks like ETH could be headed for 1 more dip out of the flag into the lower support level from Aug 1st. with a possible uptrend back to the 233 resistance level afterwards. Very low volume still, so not much movement.
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Looks like the flag will point towards an upward trend. Steady movement along the 220s and will possibly test the 233 resist level again. Volume slowly climbing up and we may not see the dip down towards the support zone.
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Now that we have some higher volume, ETH may test lower support level. Possible long position, with a buy in around the 210-217 area.
Super low volume. That 1.5M ETH sell at $225 on polo has paralyzed the market. Taking forever to eat through. Agreed looks like it stalled and will dip before trying again.
Acidus
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@bartosan, yeah i noticed that earlier, a 6.8k ETH sell.
bartosan
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@Acidus, Whats up with the super low volume? Even on other exchanges?
@bartosan, im not exactly sure. It could have something to do with a lot of money being dumped into/out of Bitcoin Cash. If it tanks, which it is currently, we can probably expect to see more volume coming to ETH. BTC also has low volume right now so a lot of buyers could be holding on.
bartosan
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@Acidus, any stats on how much BCH is tradable right now vs. stuck in wallets?
Acidus
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not sure, but also the downtime on Poloniex may have something to do with it.
skidoo
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@bartosan, it's called August. even traders go on vacation