Ethereum/dollar weekly update week commencing 15th January 2018

The week commencing 15th of January 2018 showed a potential bullish candle with price being rejected from $770.00 all the way up to $1126.00. This shows that a lot of buying activity is taking place in between these two price points.

This being said the strategy for long term investors may be to buy intermittently to get an average price especially if the price drops below the $1000.00 mark since many buyers are coming in at this price.

For more cautious investors, it may be advisable to wait to see a bullish green candle over the next few weeks.

Its safe to say that on a daily basis the market is consolidating and on a weekly basis price below $1126.00 is being rejected thus far.

The same story can be seen in the bitcoin market (below), the way that price is being reject by both suggest to me that the short term investors who got spooked and left the market may be being replaced by more savvy long term investors as they see opportunities to buy cheap.

(Disclaimer: This is not investment advice)