It seems like the ETH market in particular is really volatile at the moment.
Due to your superb analysis it looks like it is leaning towards breaking free and going on an upward trend but we can't know for certain yet.
Do you think it is a good idea to put money into ETH now @xaero1?
I know you don't want to be responsible for any trading someone does but it doesn't bother me if you get it right or wrong haha
Thanks for you great analysis with the helpful graphs
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Sorry, I didn't reply before. I hope you didn't put money in at that point, or took it out - but it is a case of investor beware! I did say that b-bands tightening often lead to a break, but this can be up or down. And I did point to some negative factors - but even if I hadn't, it's still completely impossible to predict where the market is going with certainty!
Personally, I sold some later when the graph's curve started to accelerate in the downward direction, at about $225.
As for the short term outlook, I'm a bit negative right now. Some obvious negative factors: The one-week MACD had gone red; and the EMAs on the 12 hour chart have crossed to the negative direction. But who knows, it could still bounce around this price level.