ETH has been consolidating for the last 4 days. Historical there has been a 4 to 6 bar consolidation period before a move up or down. At these levels, with this volume, there is a high probability we remain between $200 and $230 (POC at about $220). I can appreciate the work of other individuals who put time and effort into their charting analysis. What I do not appreciate is recommending entry and exit points. after 25+ years of trading, I have learned it is much better to advise people of the facts, keep the analysis simple and let them judge for themselves. If we are long, we want to hear ETH is going up to the moon and if we are short, we want to hear ETH is going to ZERO. I think your better judgment here is to wait until a break and close above $230, or a break and close below $200. Set your alerts and have fun doing something else in the meantime. I am writing for people who desire to Trend Trade and not for the swing traders who look at 1 hour, 30 min, and 15 min charts.
The News:
"The market has not demonstrated any major change in trend since September 11. Apart from the abrupt increase in the price of ETH, the native cryptocurrency of Ethereum, which was somewhat expected due to the 50 percent fall in value recorded by ETH in the previous week, the market has been relatively stable."
www.ccn.com/crypto-m...e-remains-a-concern/
I will always keep the analysis simple, the charting easy to understand and express my opinion as just that... My opinion only! As of the date of this post, I do not have a position in any crypto, but I am biased to the downside. The trend is your friend no matter what direction ETH it is moving and to believe otherwise will leave your refrigerator empty. Thank you guys for the likes. I am sorry for not posting a newer chart but there is really nothing deep here to analyze yet. Aside from the intense volume, we have seen price support in he areas I mentioned above. If something changes you can bet I will have a look and report the news. Good luck!
Biff
The News:
"The market has not demonstrated any major change in trend since September 11. Apart from the abrupt increase in the price of ETH, the native cryptocurrency of Ethereum, which was somewhat expected due to the 50 percent fall in value recorded by ETH in the previous week, the market has been relatively stable."
www.ccn.com/crypto-m...e-remains-a-concern/
I will always keep the analysis simple, the charting easy to understand and express my opinion as just that... My opinion only! As of the date of this post, I do not have a position in any crypto, but I am biased to the downside. The trend is your friend no matter what direction ETH it is moving and to believe otherwise will leave your refrigerator empty. Thank you guys for the likes. I am sorry for not posting a newer chart but there is really nothing deep here to analyze yet. Aside from the intense volume, we have seen price support in he areas I mentioned above. If something changes you can bet I will have a look and report the news. Good luck!
Biff