One thing a Modified Shiff and Bollinger Bands can agree on, is that from a daily time-frame, the slope is pitched ever so gradually up against a larger current. To expect ETHUSD Price movement to extend upwards against a 200 Period Bollinger Bands, and the weight of the 200 Avg in a single volatile action, would be wildly irrational.
ETH Price action did make a convincing pop over the 200 MA, but the first order block was nearby. ETHUSD has shed a considerable amount of mass with respect to the 200/100 and 50 Period Distribution Sets (more the latter two than the former), making high volatile moves in the future more impact-full.
The reality is, the driver in the 'Short-Term-Volatility-Distribution-Set-Lane' just pulled into oncoming traffic, a large 18 wheeler or maybe a family sized 'Large-Distribution-Set-Winnebago'. Price action could find it more comforting to reload along the 200 MA, though there seems to be 2 large supporting wicks around the 153 area. Possible too, that ETHUSD finds a nice trading channel to nestle into along the top side of the Pitch Fork Median Line while the 200 MA Benchmark turns up, and the bands find a new altitude to their slope (upward).
With the 100 and 50 Period Band @ 1.2 StdDv Lifting their slope - ever so moderately and coming to meet the 200 MA, the road may be altering slightly. To think we could not, or will not return to the $100 range to retest some lows is not out of the question. We are within the 200 Period Distribution Set, smack right in the middle (mean) @ a 68.2% probability chance that data can trade within this range of the mean with the lower 200 band sitting, mobile I mind you, at the $97 mark.
The 200 Period Bands have taken 2 months to change their mind, the lower band is not sloping up, and the upper band is still pitched down.
Can it hit $200, sure, but sitting directly over the upper 200 Band @ 1.2 StdDv is also a large order block, conveniently.
If you want to learn more about Volatility Theory, go Visit DadShark @ Shark Charts. I'll link him below.
Good Luck, Traders. May you find yourself on the profitable side of it.
ETH Price action did make a convincing pop over the 200 MA, but the first order block was nearby. ETHUSD has shed a considerable amount of mass with respect to the 200/100 and 50 Period Distribution Sets (more the latter two than the former), making high volatile moves in the future more impact-full.
The reality is, the driver in the 'Short-Term-Volatility-Distribution-Set-Lane' just pulled into oncoming traffic, a large 18 wheeler or maybe a family sized 'Large-Distribution-Set-Winnebago'. Price action could find it more comforting to reload along the 200 MA, though there seems to be 2 large supporting wicks around the 153 area. Possible too, that ETHUSD finds a nice trading channel to nestle into along the top side of the Pitch Fork Median Line while the 200 MA Benchmark turns up, and the bands find a new altitude to their slope (upward).
With the 100 and 50 Period Band @ 1.2 StdDv Lifting their slope - ever so moderately and coming to meet the 200 MA, the road may be altering slightly. To think we could not, or will not return to the $100 range to retest some lows is not out of the question. We are within the 200 Period Distribution Set, smack right in the middle (mean) @ a 68.2% probability chance that data can trade within this range of the mean with the lower 200 band sitting, mobile I mind you, at the $97 mark.
The 200 Period Bands have taken 2 months to change their mind, the lower band is not sloping up, and the upper band is still pitched down.
Can it hit $200, sure, but sitting directly over the upper 200 Band @ 1.2 StdDv is also a large order block, conveniently.
If you want to learn more about Volatility Theory, go Visit DadShark @ Shark Charts. I'll link him below.
Good Luck, Traders. May you find yourself on the profitable side of it.
