Analysis:
ETH has presented an opportunity that was sidetracked yesterday. Last night I presented a weaker scenario and true to form price has not gone anywhere but sideways. this is a good thing of course, because we can potentially get back into the long position when the signals cross back up. This time however, the longer term sentiment has hit OB range, which means that the acceleration potential to the upside is great. While I do not update this blog hour by hour, you are more capable to look at the signals for a turn up to help you enter the position as you so wish.
Foot Note:
When analyzing this chart, you will notice the Slow Stochastics indicator. I find this indicator to be the complete indicator compared to the vast majority out there. Lets explore the terms I will be using. Also use the indicator based on its respective time-frame:
Time-Frame:
1 hour - Lasts 1 hour - Few days
Daily - Last Days - Week(s)
Weekly - Last Week(s) to Month(s)
Term used:
OB - OverBought (above 80)
OS - OverSold (Below 20)
Bullish - Above 50
Bearish - Below 50
Trend - Cross up in both channel line or Cross down in both channel line.
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