No mans land

18 set 2018

Well, we had our close below $200 but I was too chicken to pull the trigger on a short. There has been too much accumulation at these levels and I felt it wouldn't be long before we were back above $200! The volume profile is clear... we are in a consolidation trend that could last weeks. There is a strong belief that there is value at these levels and the buyers are stepping in. What they are not doing is stepping up to drive the price over $230. So the price falls back again and we Rinse and Repeat. I would be very cautious about entering a long or a short at these levels as a short squeeze can send ETH back to over $300 and bring in new buyers, or exhausted buyers will just let it fall. This is No man's land!!

The News!

Crypto Bloodbath: Bitcoin and Ethereum Record Losses in $10 Billion Wipeout

“It seems that the owner of a huge SilkRoad related wallet is moving funds actively since 3 days, dividing it in chunks of 100 coins by subwallets. The original wallet owned 111,114.62 BTC / BCH , which is currently valuated ~ 844M (without taking in account other #Bitcoin forks). Last movements on these subwallets are 4 years and 5 months old (March 9th, 2014).”

ccn.com/crypto-bloodbath-bitcoin-and-ethereum-record-losses-in-10-billion-wipeout/