/biz/ - Business & Finance

>>14856561
I'm a little busy but slogging through it!
VIDT/ETH ON 18JUL2019 @1745UTC

1. The cross referencing is kind of hard here because i'm looking at a few different chart separately. Price had reverted to the mean after failing to sustain the initial run up around the start of JULY, it failed the UPPER 2.2 and didn't afterwards close convincingly above it or even breach it, afterwards the UPPER 1.25 CONTAINMENT ZONE, and of course because price is UNCERTAIN it reverted to the DAILY MEAN to attempt to hold ground there.
We can then go down to the 4HOURLY chart to see exactly why price failed to break the DAILY UPPER 2.2 and then why it held the DAILY MEAN.
Looking at the 4HOURLY chart we can see that the attempt to break the UPPER 2.2 DAILY on the 4HOURLY chart was never bound to succeed, the price was trading in no mans land in that time and found temporary SUPPORT at the 4HOURLY UPPER 1.25, failing that it reverted to the 4HOURLY MEAN to then hold that MEAN and then also attempt to hold the DAILY MEAN. We can see that even though the 4HOURLY MEAN was broken it closed convincingly ABOVE the DAILY MEAN only wicking into it, price could have also found support at the 4HOURLY LOWER 1.25 but it didn't attempt to breach or try that level since the DAILY MEAN was still in play.
We can look at the 1HOURLY chart to confirm that there was no bearish senitment prevalent in the 1HOURLY chart, which there wasn't as price closed hugging tightly the LOWER 1.25 1HOURLY DISTRIBUTION.
Price seems to have very recently failed the UPPER 2.2 1HOURLY, which suggests to me (including the data of the distribution flattening out) that price will trade laterally for the next couple of HOURLY candles.

2. So where do we stand currently? Well the distribution on the 4HOURLY seems to be flattening, so it suggests a period of temporary consolidation, it also appears flat recently on the 1HOURLY distribution.
It seems like the price, after failing