Somebody’s buying ETH now, should you?

eth 4 hour 7 18.png

Monday July 18, 2016  6:45 AM

Trading volume on ETH is already the highest it’s been in over a week, and it’s still early. That means something. Price is also trending up. Bullish signs. Time to buy?

Maybe, but I can’t get past the 4 hour chart above. Too many conflicting signals. I’m going to say the probabilities here are 50/50. No edge to up or downside.

I’m holding my 25% long ETH, and looking to buy back the other 25% I sold at $12, and possibly even more,  but can’t pull the trigger with the current conflicting signals in the patterns and indicators.

Also, the hardfork is coming which is likely to bring a lot of volatility to ETH, while at the same time, might provide a clear pattern to decide my next move in ETH.

In any case, I’ll pay special attention to volume and how ETH closes along with my regular pattern and indicator analysis for the next couple of days.

This is not a time to rush into anything, but decision time appears to be coming soon…

NOTE: NOTHING IN MY POSTS IS INTENDED TO BE TRADING ADVICE.  Please do not base your trades on any information presented in the materials on this blog as it is for information and entertainment purposes only. You are 100% responsible for your own trading decisions. 

 

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