ETHUSD - Indecision area
Updated
There seems to be a young trend line forming to keep ETHUSD bullish however since the low points have not been tested over and over again, we can't decide if the trend line is strong enough or not. I will watch the daily close, if the close is lower than yesterday's low, I'm going to short it with yesterday's high being the stop loss.
Otherwise, I'll watch the Williams Alligator at smaller timeframes - ie 2 hours and 4 hours to decide on opening a long position.
Otherwise, I'll watch the Williams Alligator at smaller timeframes - ie 2 hours and 4 hours to decide on opening a long position.
Note
The blue bars indicate volume spikes at major dips/support/resistance zones. The highest spike is 925K of trade volume and some other ones are around 650K-675K of trade volume. The last bar has about 450K volume, so which makes me think that the buyers are not willing to buy at this price yet. So, a little bit more downside looks a tad more possible.Note
Still watching..570$ is a game changer line. If ETH manages to stay above this level at midnight today, I may open a long position with 570$ being stop.Trade active
Trade is active since the 1st of June @580 USD.The bull power seems a bit exhausted, so moving my stop loss to 580 (daily close), so the trade is risk free.
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