ETH is getting into all time high psychological resistance zone ($362-383) and Short term I expect ETH to consolidate once this zone is reached.
https://www.mql5.com/en/charts/7538679/ethusd-d1-simplefx-ltd
ETH/USD update
7 years ago in #cryptocurrency by srezz (48)
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As always thanks srezz. Still learning a lot!
@mpgd : http://www.investopedia.com/terms/c/consolidation.asp
Thanks Krepno!
Thanks Srezz! One question: With what do you think it will consolidate? In other words. What do you mean by Consolidate in this update?
Why would there be a psychological resistance at that range, when it flew by that amount last time to get to ATH $410 last time?
I'm not a psychology expert and can't give you an explanation as to why but round numbers as well as all time highs/lows work as attractors and strong supports/ resistances.
meep
Very thoughtful, Sir.
meep
but, funny because of his Avatar. lol
@srezz, thx again for publicly posting, your charts.
meep
Thank you srezz. This is spot on. If I may ask you, are you going to do a TA on IOTA soon?
I'll need at least one year of data history to begin doing something meaningful.
Thank you. Btw, your influence in cc is remarkable!!
I think you well overestimate it. The CC market's been taken over by the Wall Street money and HFT systems long time ago.
Thanks Srezz.. What do you think about double tops here?
So far there's nothing much to think about. It was clear right from the beginning that we are heading to a double top and if you read my head post that's what it is implying. However, a double top does not mean anything in itself. The market must show its hand upon reaching a double top before we jump into any conclusion.
Personally I expect a mild pull back and continuation to my $500+ target set long time ago.
Thank you for that, this will help for me to get a little grip on the situation. Keep up the good work!
Looking at your chart....a small pullback to about 345? The chart is not very clear on my old computer...
At this point of time don't see it any lower than $355