So we had a a pretty rough day yesterday, but this is what you signed up for trading this market. The movers stomped out some stops yesterday and while everyone was buys freaking out over a few % points the whales were busy collecting all their coins. You have to be ready for volatility like we saw yesterday, because your trading in a unregulated market, with straight killers.
ETHUSD
was able to find support on the trend line and made a little bounce from there. Honestly I wouldn't be surprised if we continued consolidating until next week or the week after, once the whales have sucked up all the liquidity they will the price and then sit back and wait for the retail investors to FOMO in driving us to a Y2D high. I'll probably be setting my stop somewhere in the 220s
ETHUSD
was able to find support on the trend line and made a little bounce from there. Honestly I wouldn't be surprised if we continued consolidating until next week or the week after, once the whales have sucked up all the liquidity they will the price and then sit back and wait for the retail investors to FOMO in driving us to a Y2D high. I'll probably be setting my stop somewhere in the 220s
Comment:
If we can close the daily with some strength than this hammer candle will be confirmed which is a bullish sign showing that the bears weren't able to maintain the selling pressure downward
Comment:
Alight we broke out of the consolidation pattern and now as long as we can close out the day the pattern will be confirmed. Looking as the visible range we see that there really isn't much resistance in the way for when making our move up.
Alight we broke out of the consolidation pattern and now as long as we can close out the day the pattern will be confirmed. Looking as the visible range we see that there really isn't much resistance in the way for when making our move up.