ETHUSD: Where does it stop?

The Market Tale (Sep 16, 2019)

“Voila!” — said Bull, showing his ETHUSD long position. It was profitable already, but he didn’t want to close. He expected the market to go even higher.

Bull’s position: entry @ 181.08, stop @ 177.63, target @ when-market-reverses

“Low volume,” muttered Bear, and pulled up a day chart, where it was even more visible.

Bear reads the chart as “low volume pullback”, which is a short opportunity

“Exactly! “ said triumphant Bull, “That means low supply”.

“But also low demand” retorted Bear, “Meanwhile, we are approaching daily resistance at 197.70, which is close to the psychological level of 200 — there will definitely be a battle for it.”

“A weird battle where one side wants to lure the other side to its territory”

“What do you mean?”

“I mean the sellers want to get a higher price, don’t they? So they want to lure the buyers to their territory, above 200.”

“The same is true for buyers — they want to buy below 200, hoping to lure the sellers.”

“Indeed.”

“There will be blood… I mean, volatility”.

“Let’s see who wins, and go with the trend” — said Bear. He was always ready to follow the market, no matter which direction.

“I still think we shall break 200 and close above it” — said Bull. He was more stubborn, reluctant to let go of his vision (and his long position).

“We’ll see, we’ll see…” — replied Bear.