Most analysis I look at predict an upside move but the current candle with a lower high than the previous one plus a low volume tells a different story .I'm not sure how this candle final form but to me it will show a lot.
It's because everyone is waiting on it to get slammed down so people hold back. The sudden breakneck move down is almost on no volume at all. Everytime it occurs it coincides with a BTC drop. The shorts are trying to crush it. Look at the tape - especially BitFinex. There is absolutely no reason to sell right now other then having a short agenda. Every indicator points in the up direction. If you are shorting here you are either inept or goal seeking on a serious level or believe said goal will occur or really need to raise cash. ICO's may be selling to ensure cap is in tack through 8.1. I think pricing will be locked in this pattern until Segwit is done. After that, ETH will rocket. As will BTC. Look for the price to explode on July 31. If your on the sidelines, don't wait until then. Good luck.
mashtrader
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@NoCode326, with all respect your first statement "It's because everyone is waiting on it to get slammed down so people hold back" contradict your advice "If your on the sidelines, don't wait until then" . If everyone waiting on a final slam down and then pick it up why would I buy now ? why not wait for lower price ? better entry point . I don't have any position at the moment and actually I'm with the mass waiting on a final slam down which I believe won"t be as low as the previous one ( $130) but below $190 which I predict will form the second leg for a double bottom . Makes sense to let the shorts deep in and crush them on the way up , it's more fun .
cgavel
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Nice to see the actual view of chart. It is what it is. Neutral as of now. Good job :)
forkknife777
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Based on the sentiment of the community alone, I'd tend to think you're correct. The mania from May/June is gone, the ICO hype is killing itself, and the ICOs are cashing out their ETH for fiat. This ride ain't over yet, folks!