dubie
Short

ETH/USD ETH is about to wet the bed

COINBASE:ETHUSD   Ethereum / U.S. Dollar
I doubt ETH will break this small up channel . too many sellers up above... not enough buyers
Comment: I thought it would sell off more than it did. ETH has been surprisingly resilient. I think it wants to go up.. just needs more time. sideways grind?
Volume has not been good on thid rally
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N0S41NT btreehouse
@btreehouse, What does that indicate? (newbie)
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dubie N0S41NT
@N0S41NT, break down or not do well near term. Though it is showing resilience... I now see it trading sideways for a bit before another attempt at all time highs.
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@N0S41NT,

Depends. Right now to me, I think it means a lot of people are undecided, thus not trading. Kind of like from May 30th peak as ETH went into a slightly rising wedge until June 1. We are still in that price range.
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dubie btreehouse
@btreehouse, I agree. It did correct as far as I thought and is showing resilience. I now expect sideways trading and consolidation to build for the next move higher
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@dubie,
A lot of traders have their stops just above and below the sideways range. Thus that accounts for the volume spikes when the market breaks either way. This can kill margin traders who are wrong but be great for those that guess right. Using a 60 min time frame with displaced EMA set on a length of 100 provides a decent line in the sand.
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