ETH/USD ETH is about to wet the bed Short

COINBASE:ETHUSD15

Ether / United States DollarCoinbase

Description

⋅ Jun 2, 2017 4:52 AM

I doubt ETH will break this small up channel. too many sellers up above... not enough buyers

Comment

⋅ Jun 2, 2017 5:24 AM

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?

ETHUSD Ethereum (Cryptocurrency)coinbase

Comments

btreehouse

⋅ Jun 2, 2017 5:38 AM

Volume has not been good on thid rally

N0S41NT

⋅ Jun 2, 2017 12:00 PM

@btreehouse, What does that indicate? (newbie)

dubie

⋅ Jun 2, 2017 12:15 PM

@DaanJordens, 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.

btreehouse

⋅ Jun 2, 2017 1:01 PM

@DaanJordens,

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.

dubie

⋅ Jun 2, 2017 1:03 PM

@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

btreehouse

⋅ Jun 2, 2017 1:23 PM

@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.