ETH: Brace for Boring; Range Trading

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Hi Traders, Investors and Speculators of Charts📈📉

Although we have seen slight corrections to the upside after a stretch of red days, most Technical Indicators are still extremely bearish in higher timeframes. It's helpful to look at technical indicators in higher timeframes because this cancels out the noise and shows the real trend.

Occasional wicks above and below is possible, as this type of price action is attractive for bots. Bots are algorithms / algorithmic traders that function really well in tight, range bound zones. When the bounces become too obvious; an occasional wick is seen above the resistance zone or below the support zone.

You too can trade these zones, if you are extremely disciplined and trade with spot instead of leverage. Leverage trading in tight ranges gets you rekt more often than not.

Again, I'm still looking at accumulation opportunities across the altcoin markets instead of trying to trade BTC or ETH here.

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For the SHORT Term, I expect continued trading in the Lower Support Zone: