Traders are going to their holiday
X'Mas and New Year is near, traders are cleaning their positions.
Last week, originally range trading around 102-128 from Last Tuesday to this Sunday , but the bulls buying volume is weak, unable to challenge 124-128 range, then retesting previous low. We observe major short term buyers run away after fail to test the 10 day Moving Average(10-MA), the Ethereum price could not stand above 10-MA for any one day. Price was easily dropping down 100 and falling to 83.00 new record low after May, 2017.
Let's see if the price can form a Pin Bar or not? (4 hours chart)
If it forming a Pin Bar, maybe it can come back to 3 digital figure. (Trading volume was increased while price went up)
If it fail to form the Pin Bar, then it might retest the low again.
We are still keeping our trading strategy "Hit and Run" at this moment-Long first then liquidate.
Last week, originally range trading around 102-128 from Last Tuesday to this Sunday , but the bulls buying volume is weak, unable to challenge 124-128 range, then retesting previous low. We observe major short term buyers run away after fail to test the 10 day Moving Average(10-MA), the Ethereum price could not stand above 10-MA for any one day. Price was easily dropping down 100 and falling to 83.00 new record low after May, 2017.
Let's see if the price can form a Pin Bar or not? (4 hours chart)
If it forming a Pin Bar, maybe it can come back to 3 digital figure. (Trading volume was increased while price went up)
If it fail to form the Pin Bar, then it might retest the low again.
We are still keeping our trading strategy "Hit and Run" at this moment-Long first then liquidate.
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