The weekly trend is still Bearish.
The daily trend is neutral to Bearish.
The volume is very low which has been a double-edged sword in past trading days as price action can move much higher or lower on low volume. In this case, I see the volume as a bear sign and a fade lower.
My opinion is, STAY OUT. Using the Oct 15 candle for a fib 212 is short-term resistance. The last squeeze could have wiped out a lot of overhead resistance. When the next squeeze comes we could shoot right thru these areas with little resistance. I am hoping for a fade lower to dollar-cost-average in and continue to do so while keeping a close eye on short interest. Miners could very well be holding on to a lot of ETH and let it go when the squeeze comes driving the price right back down. The way to play this is smart. Be frugal, patient and ready to commit when the time comes. The 50-day moving average is the key to the long play IMHO)... My question is WHERE DID ALL THE MONEY GO? In stock trading money moves in a rotation, so where does the big crypto money go when there is a big sell-off?
I really like Ripple. Ripple could replace, or work in tandem with the international swift system which makes it very appealing to me. I have done well trading it. Anyone who has followed me has seen my post recommending it. I think someone begged me not to get in. I have more than doubled my investment.
Maybe there is a little here to chew on for some of you guys, but for now, it's another waiting game, so I seek my crypto trading entertainment elsewhere. Let's make some money. If you are desperate to get into an ETH trades, I recommend looking at some of these guys 4hr and 1hr charts to get some short-term trading ideas.
Have an idea, something to add, or just want to disagree and enlighten me, be nice, respectful, and give a good explanation. If you have a trading idea, I would enjoy reviewing it. It's why we're here!!!
Biff
The daily trend is neutral to Bearish.
The volume is very low which has been a double-edged sword in past trading days as price action can move much higher or lower on low volume. In this case, I see the volume as a bear sign and a fade lower.
My opinion is, STAY OUT. Using the Oct 15 candle for a fib 212 is short-term resistance. The last squeeze could have wiped out a lot of overhead resistance. When the next squeeze comes we could shoot right thru these areas with little resistance. I am hoping for a fade lower to dollar-cost-average in and continue to do so while keeping a close eye on short interest. Miners could very well be holding on to a lot of ETH and let it go when the squeeze comes driving the price right back down. The way to play this is smart. Be frugal, patient and ready to commit when the time comes. The 50-day moving average is the key to the long play IMHO)... My question is WHERE DID ALL THE MONEY GO? In stock trading money moves in a rotation, so where does the big crypto money go when there is a big sell-off?
I really like Ripple. Ripple could replace, or work in tandem with the international swift system which makes it very appealing to me. I have done well trading it. Anyone who has followed me has seen my post recommending it. I think someone begged me not to get in. I have more than doubled my investment.
Maybe there is a little here to chew on for some of you guys, but for now, it's another waiting game, so I seek my crypto trading entertainment elsewhere. Let's make some money. If you are desperate to get into an ETH trades, I recommend looking at some of these guys 4hr and 1hr charts to get some short-term trading ideas.
Have an idea, something to add, or just want to disagree and enlighten me, be nice, respectful, and give a good explanation. If you have a trading idea, I would enjoy reviewing it. It's why we're here!!!
Biff
