The 1 day Bollinger Bands are constricting to the tightest they've been in a very long time, if ever.
Expect a breakout soon. We have spent most of the last few months range bound between the support and resistance lines above. If it breaks to the upside (likely) we should see momentum carry us past the 315 resistance. If it breaks to the downside (less likely) it should drag us below the 275 support and further. 275 support was only breached during the China news, which crypto has clearly shrugged off, especially BTC.
I word it likely and less likely because if the Parity hack couldn't drop the ETH price (or affect the bands) I can't imagine traders breaching support without worse news (hack affects other multi-sig wallets??). Crypto markets are fueled by news so keep an eye out.
The BTC fork is the wild card. It's unlikely we go sideways for another 7-9 days until the fork so I believe something will have to give beforehand.
Pip pip, cheerio!
P.S. You can follow my trades on twitter in real time @ https://twitter.com/SirLamboMoon
Expect a breakout soon. We have spent most of the last few months range bound between the support and resistance lines above. If it breaks to the upside (likely) we should see momentum carry us past the 315 resistance. If it breaks to the downside (less likely) it should drag us below the 275 support and further. 275 support was only breached during the China news, which crypto has clearly shrugged off, especially BTC.
I word it likely and less likely because if the Parity hack couldn't drop the ETH price (or affect the bands) I can't imagine traders breaching support without worse news (hack affects other multi-sig wallets??). Crypto markets are fueled by news so keep an eye out.
The BTC fork is the wild card. It's unlikely we go sideways for another 7-9 days until the fork so I believe something will have to give beforehand.
Pip pip, cheerio!
P.S. You can follow my trades on twitter in real time @ https://twitter.com/SirLamboMoon
Comment:
SEG2X called off... Could this be the catalyst??
Comment:
Clearly broke up. Resistance in $250's. Good luck :)
Follow me on twitter where I spit hot fire... @SirLamboMoon