I try not to predict price but ETH has been moving south in a very structured predictive pattern. Notwithstanding a short squeeze, which seems less likely with each passing day, I must deal with the reality that traders are done eating salt and living on the hope that a rebound is imminent. The reality seems to be clear in the short term, we are getting more...
The Bears own this market and have been taken it down in a trend cycle as seen on the weekly. It really is hard to see a rebound because the chart shows the Bears consistently allow consolidation and then bring it down. The Longs get weaker and weaker after each move lower. Next stop 3k. If the current trend continues February should be the timeframe to 3k. It's a...
time to buy! If you go back and read my original price prediction for ETH, I stated we could see $25.00. I was hit with mass HATE publically and in private messages. The BEARS are in control of ALL cryptos. As I have stated from my first posts we would not see $500 this year! There is too much emotion in crypto trading. Every kid dreaming of becoming wealthy in a...
I am buying when prices slip under $175 -- the strategy is to bet on the squeeze from the recent run-up in short interest. See my chart on ETHUSDSHORTS. We have been successful 2 times with this strategy and I can't see if failing now. I can't stress enough the importance of Dollar-Cost-Averaging in at various points depending on your strategy. The overall trend...
Entry at $175 or below is fine with all the selling the past four days. $191.19 will be resistance but should easily be taken out on the squeeze. $201 is the next resistance point. I feel this will be the resting spot after the squeeze. The bears are gonna let it go because it works for them. The only choice long have is to surf these waters by opening and closing...
This looks just like the last set up for a SHORT SQUEEZE. This has my attention and I will be entering a long position. My stop will be 165.00 I do not expect a huge squeeze as this is starting to get old. But it appears to be the same M.O. as before. Short sell and run up; short sell and run up. Each time offering hope to longs while slowly slipping lower. If I...
I have realized that cryptos are a different animal than stock trading which makes TA very difficult. The reason TA can be helpful is most people use simple support and resistance points. Many use similar indicators while Bots use similar analysis to auto-trade. What we have been seeing in crypto is MARKET MANIPULATION by the big money, aka the whales. I sold my...
Well, what can we say? WE CALLED THIS ONE! We broke the 50 Day Moving Average and this should confirm our trend reversal. Protect your gains and enjoy the ride. No one can predict how high we will go from here but we are meeting little resistance as the weak hands were flushed out on the last short squeeze. I am watching the short interest and volume while...
If you have been following me and taking my trading advice, congratulations you are in the money. We are witnessing a little squeeze as the Bears are exiting the market. Short term momentum is on our side. A close above the 50d MA is confirmation of Divergence and Trend Reversal. If we can Break above 214.60 and hold, the trading algorithms will kick in and...
We are holding firm at 197-198. It appears we have hit a bottom because prices under 197 have been rejected and prices above have been probed. I have purchased ETH at these levels as I have stated in previous posts looking forward to more downside. Now, we may trend up to $200 which will take some push to get thru and hold.
We are still fading away from the 50d MA = BEARISH We broke the previous uptrend, signal - BEARISH Short interest is still above average but nothing to crow about. Control of ETH is given to the BEARS. I have 197-198 as resistance. I have been making small buys under $200 as I have stated before. I am HOPING for a drop to $185 where I will buy MORE! Patience is...
We are getting another chance to get in this Dog and buy small amounts under $200. DO NOT BLOW YOUR WAD on this dog. I am buying small amounts at every new low and will buy bigger amounts the lower we go. When I am finished buying on the way down, I will wait for the next pop and begin selling into the frenzy. We could be in this downward trend for a month or...
Crypto's are in a bear market (Unless you didn't know)-- DOH! What I am seeing in ETH is the same for Bicoin; Low-Volume, Lack of Interest, and no volatility. Crypto is driven by its volatility and crypto traders have become addicted to that volatility, but the reality is: ETH sellers will not let their coins/tokens go for under $203. So if your not willing to buy...
A trading opportunity may be presenting itself. We do the same trades as last time. If we break below $200, we start buying small amounts (I am already buying on coinbase pro) while "eyeing" the short interest. If the shorts interest rises it will validate our trade and we continue to buy on the way down and hold for the squeeze..... Only this time the weak hands...
Not much going on for BTC as short interest declines, volume fades, and price stabilizes. I am looking for the price to fade lower in the ranges I indicated in a previous post. I will join the accumulation and pray for rising short interest and wait for the squeeze! There is news on the horizon so optimism could drive the next leg north, but miners holding for...
The short interest is rising while price degrades. If past price action around $200 is prolouge we can hope for the price to inch closer to $200 while short interest continues to rise to allow for my previous trade set up of dollar-cost-averaging under $200, and waiting for the short squeeze to propel you north for a nice 20+ percent scalp. These trading setups...
Simple chart analysis and NVT ratio consideration indicate Bitcoin is over-valued and needs to normalize. This doesn't necessarily mean a dramatic steep decline, but a possible gradual decline into the NVT normalization ratio. Right now the ratio is near double the top end. Using historical NVT ratio valuations, BTC NVT would need to fall to no less than 100 to...
The weekly trend is still Bearish. The daily trend is neutral to Bearish. The volume is very low which has been a double-edged sword in past trading days as price action can move much higher or lower on low volume. In this case, I see the volume as a bear sign and a fade lower. My opinion is, STAY OUT. Using the Oct 15 candle for a fib 212 is short-term...