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RE: Ethereum TA discussion: Bollinger bands tightening! Due for a breakout (or break-down)?

in #trading7 years ago

Sorry, I didn't reply before. I hope you didn't put money in at that point, or took it out - but it is a case of investor beware! I did say that b-bands tightening often lead to a break, but this can be up or down. And I did point to some negative factors - but even if I hadn't, it's still completely impossible to predict where the market is going with certainty!

Personally, I sold some later when the graph's curve started to accelerate in the downward direction, at about $225.

As for the short term outlook, I'm a bit negative right now. Some obvious negative factors: The one-week MACD had gone red; and the EMAs on the 12 hour chart have crossed to the negative direction. But who knows, it could still bounce around this price level.