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Ehtereum is at an oversold level in the 1hr chart

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Luuee Tang
@luueetang
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Ethereum looks like its consolidating at the moment at a range of 2700 USD to 3100 USD. It went up to 3100 yesterday before retracing back.

At the moment, the one hour chart is heading towards oversold levels on the 1hr chart. This chart is quite accurate to roughly gauze the short term direction. October is just a couple of days away and we are heading towards the last quarter of the year. Are we repeating 2017 as we head towards December? I don't think the Dead Cat is bouncing. It has been months since that crash in May.

If there is a strong rally heading towards December, then I would be pretty cautious. It's been a while since I wrote an analysis post, so I am slightly rusty.

@luueetang