Doubling Down! Ethereum will not break $170...
PRICE ACTION
Looks like there was a decent volume of bullish sentiment over the last 24 hours; though is has not been an endlessly smooth ride to this point.
On the 4H, volume is weak, and the RSI is just chop.
On the 5m, volume is almost 0 and RSI is volatile in all directions.
On the 1D, the price action has been a tight cluster today and there is nothing else really of interest.
On the 1W, we are still red, and volume could be the lowest in a month unless something drastic happens.
In lieu of any counter evidence, it’s time to double down. Ethereum will not break $170.*
*conditions apply
OPEN INTERESTS (BITFINEX)
Long: 2.09 Days
Short: 0.39 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 156 (28D MA), 155
PREVIOUS ANALYSIS
Looks like there was a decent volume of bullish sentiment over the last 24 hours; though is has not been an endlessly smooth ride to this point.
On the 4H, volume is weak, and the RSI is just chop.
On the 5m, volume is almost 0 and RSI is volatile in all directions.
On the 1D, the price action has been a tight cluster today and there is nothing else really of interest.
On the 1W, we are still red, and volume could be the lowest in a month unless something drastic happens.
In lieu of any counter evidence, it’s time to double down. Ethereum will not break $170.*
*conditions apply
OPEN INTERESTS (BITFINEX)
Long: 2.09 Days
Short: 0.39 Days
RELATIVE STRENGTHS
- Micro (5m): Flat
- Short Term (4h): Chop
- Mid Term (1D): Lower Low
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Weakening
- Macro (1W): Lower
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 156 (28D MA), 155
PREVIOUS ANALYSIS
Trade closed: stop reached
in all fairness; this move was a possibility in a market with such low volume. Would have looked really great if it had of fallen though...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.