It appears there are buyers waiting to jump in at the $116 level. I did give a BUY recommendation at that level. There is no assurance that price level will hold is we do not get some news very soon, nonetheless, ETH seems comfortable just above the $100.xx level. The price action is neutral. I hope you have dollar-cost-averaged in and continue to buy small amounts if we head south. You need to be prepared to sell into any short squeeze while still leaving some on the table for the long run.
There is a rudimentary orange trendline that appears to be holding but it is not significant to be considered a support trend as it has been broken many times. Whenever we get near these lines volatility can explode so keep an eye on the price action around that orange up-line.
My outlook is NEUTRAL and we are still range trading. This is why I am taking so many days between postings. I have nothing new to add to my old postings.
As usual, set your alerts and be prepared to make a move when necessary. I am not seeing a squeeze play up or down, but that is subject to change as we get nearer to the orange up-line.
My trading advice is to buy small amounts at or under $116.xx as I recommended before.
Don't forget to follow me on Twitter for some great crypto insights and analysis, says me!
Best,
Biiff
There is a rudimentary orange trendline that appears to be holding but it is not significant to be considered a support trend as it has been broken many times. Whenever we get near these lines volatility can explode so keep an eye on the price action around that orange up-line.
My outlook is NEUTRAL and we are still range trading. This is why I am taking so many days between postings. I have nothing new to add to my old postings.
As usual, set your alerts and be prepared to make a move when necessary. I am not seeing a squeeze play up or down, but that is subject to change as we get nearer to the orange up-line.
My trading advice is to buy small amounts at or under $116.xx as I recommended before.
Don't forget to follow me on Twitter for some great crypto insights and analysis, says me!
Best,
Biiff
