ETH struggling to break the 4-hour 100 MA; possible Distribution

9 mar 2019

ETH/USD is entering into a tightening range as we have strong resistance at the 4-hour 100 MA and support from the 50/200 4-hour MA's. With that said, I am leaning bearish in part due to LTC (see my other post for context on this.) Going along with that, the current side-ways range looks a lot like distribution to me; and that could indicate an eventual drop/dump. This is also a contrarian trade as most of the sentiment right now is bullish across the board, and when everyone thinks the same, it means someone isn't thinking.

Strong resistance: 4-hour 100 MA.

Potential zones for the price to drop if it does break down:
-4 hour 50 MA.
-4 hour 200 MA.
-Prior support zone around $125-126.

Moving average guide (All 4-hour moving averages for this post):
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.

11 mar 2019

Nota

Tapped the 4-hour 50 MA and held above it for a bit, but we have now broken below it and look primed to test the 200 MA on the 4-hour, if not lower: