Doubling Down! Ethereum will not break $170...
PRICE ACTION
Looks like there was a decent volume of bullish sentiment over the last 24 hours; though is has not been an endlessly smooth ride to this point.
On the 4H, volume is weak, and the RSI is just chop.
On the 5m, volume is almost 0 and RSI is volatile in all directions.
On the 1D, the price action has been a tight cluster today and there is nothing else really of interest.
On the 1W, we are still red, and volume could be the lowest in a month unless something drastic happens.
In lieu of any counter evidence, it’s time to double down. Ethereum will not break $170.*
*conditions apply
OPEN INTERESTS (BITFINEX)
Long: 2.09 Days
Short: 0.39 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 156 (28D MA), 155
PREVIOUS ANALYSIS
Looks like there was a decent volume of bullish sentiment over the last 24 hours; though is has not been an endlessly smooth ride to this point.
On the 4H, volume is weak, and the RSI is just chop.
On the 5m, volume is almost 0 and RSI is volatile in all directions.
On the 1D, the price action has been a tight cluster today and there is nothing else really of interest.
On the 1W, we are still red, and volume could be the lowest in a month unless something drastic happens.
In lieu of any counter evidence, it’s time to double down. Ethereum will not break $170.*
*conditions apply
OPEN INTERESTS (BITFINEX)
Long: 2.09 Days
Short: 0.39 Days
RELATIVE STRENGTHS
- Micro (5m): Flat
- Short Term (4h): Chop
- Mid Term (1D): Lower Low
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Weakening
- Macro (1W): Lower
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 156 (28D MA), 155
PREVIOUS ANALYSIS
Trade closed: stop reached:
in all fairness; this move was a possibility in a market with such low volume. Would have looked really great if it had of fallen though...