Being the King of volatility in CC space ETH's gone dead over the last couple of days currently sitting between 13 (blue) and 34 (yellow) 1D WMAs. To find its direction it has to break out either way from its present confinement. Moving above 34 1D WMA (currently @ $220) will open up $236 level where it is going to be met by a strong resistance of 89 WMA (brown). If it closes above this level on the daily basis it will be met by yet another level of resistance provided by the Gann's Square of 9 congestion of the daily cycle numbers currently spreading between $256-266 levels.
So, all in all, to go up it requires a really strong effort and if ETH manages to do so this by itself will imply the beginning of Wave III of (III).
On the contrary, there's nothing from the TA stand point that prevents ETH from returning to its recent lows except for a relatively weak support of 1D 13WMA (blue) currently @ $210.
PS. All numbers are based on xBTCe pricing. More liquid exchanges are $7-15 higher.
https://www.mql5.com/en/charts/7389794/ethusd-d1-distel-enterprises-co
Thx for all the info these past months... you're the gold, and you have spared me lots of time analyzing the markets. hours and hours saved because of you, and time is money :D
now waiting for a nice entry point for buying ether and hodling the shit out of it :))
Interesting thoughts
Thank you all for your kind words and good wishes.
thx for the intel.
Hi Srezz, Can you make something of the latest volatility?
Thanks for the update!!
I guess we just have to sit and wait till August 1st to see whats going to happen.
An hour ago it started moving down. At the moment $216
What exactly does this mean? Whether the price goes up or down?
Yeah, that would be nice if someone could tell you where the price is going exactly. The man just gave you possible scenario targets depending on where the price goes from here. You decide where you gonna put your money
@hitman888 unfortunately i don't think Suhoi even knows what ETH is. I was going to try and take a stab at answering his question, but it is just so vague i did not know where to start.
@Suhoi, can you rephrase your ?, maybe we can better help you.
I did not ask for help from you.
maybe price down below $200 !!!
Thank you so much @srezz for all these invaluable inputs. Your regular update would help group members to inspire to learn the technical stuff.
Good to see you thriving in your own space. thank you as always