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ETHUSD Trading plan based on volume analysis

BITSTAMP:ETHUSD   Ethereum
ETHUSD tested an important support from the top at 600 USD twice (1st arrow on the screenshot). At the same time, increased volumes indicate a serious intention of buyers, since they have invested so much money in stopping price. Intentions of buyers are confirmed by the output on the increased volume from the resistance zone 640 USD, and then 650 USD (2nd arrow on the screenshot). We see two options. The first is to join the buyers. The first reliable one is to wait for the breakout at 670 USD and enter Buy at rollback (3rd arrow on the screen). The first target in this option will be 740-750 USD. The second one is to see the behavior of the price during the test at 630-640 USD and buy if there are signs of a stop of a price (4th arrow on the screen). However, if sellers will prevail in the zone 630-640 USD and especially at 615 USD, which we will see by volume, we have a backup plan to join the sellers. The fifth arrow on the screenshot indicates breakout at 600 USD on top and short on rollback with the goal of 540USD.

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