Analysis:
There is no action to be had when things are in limbo. ETH is waiting for something, and maybe its for weak hands to give up or it maybe for more longs to be sucked in. One thing is for sure is that with the bullish sentiment close to bearish range it is raising more chance of a turn down if prices cannot break out of the resistance that has been hampering ETH since early Aug. Best course is to stay neutral here and wait for substantial moves with a small position if speculating.
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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