DataMoney

Why is ETH so high? Why is volatility so low?

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
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ETH is at ATH and where usually ATH is just a short spike, the last few days ATH is quite stable. What is going on with the market? There are more theories than I have space to write here, but really - nobody knows... It was great to see some volatility yesterday, however, $100-150 daily volatility at 1000 price point is amazing (10-15%), $80-100 volatility at a price point nearly 1700 - not so much (<6%). My personal opinion - its BOTS. It is likely that they are programmed to squeeze anything outside $100 volatility gap which normalizes the market and eats up your profit. If anyone understands how trading bots are programmed and have a good solution to work around this problem - drop me a private message πŸ“§

Today's technicals: Position is short, forecasted highs are at 1690 and unlikely at 1720. The lows are at 1560 and 1530 with mid-way point moving to 1510-1520 range.

Have fun trading!
Comment: The price has spiked and I hope that no one has opened shorts as it did not break the stop line.

Comments

Do you reckon it’ll hit $2000?
+2 Reply
DataMoney havock123
@havock123, it is difficult to say, it seems like the market is consolidating upwards and breaking regular trends. Regularly after a steep rise such as all-time-high, cryptos tend to take a sharp dive down. At the moment relatively low volatility is making day traders uncomfortable.
+1 Reply
dtleonel havock123
As a day traders I am getting worried because I do not know when it will go down. But now it seems stable.
+1 Reply
Well done
Reply
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