Looking at some charts and noticed this one. You can long/short this on Bitfinex. Looks like a complete cycle has just finished and like we have been going through all year, this might just be gearing up for the same thing only this time is a chance to sell the top. You can see an extended wave 3 and wave 5 just higher but staying in the trend channel.
If you look at this with candles and on lower timeframes its all harder to see and the wicks mess things up, buy you open it with the line chart and 3 days it is pretty clear to see. Should it retrace 90% like the rest of the market has, this is probably a safe longterm trade to make some ETH.
I am going to look to sell this on a lower timeframe and let it ride, will see how it goes. 3 Days candles so it will be very slow moving but will be interesting to take a look at in a couple of months time.
Comment
⋅
I played this pretty close after this post. Think its $. Side idea hold ETP use ETP to short this. ETP is holding value in BTC, USD and ETH use the compare to add eth to this chart. Compounding gains. If it does not break out of this trend and make a double top like it has twice already.
Comment
⋅
Just so you get the idea the next up is a sell. Or fall from here take profits. Wait sell again or go long for the up. Each to there own but I think this is a long term sell. Lots of profits.
Comment
⋅
Comment
⋅
Look to sell the 50 area like a double top kinda thing. Could go past it who the fuk knows. Ill be selling it will be happy if I can get 27 that was my stop today when I seen that moon but looked at other things. Dont think ill be updating for a while out of all positions, relocating!
Comment
⋅
Order cancelled
⋅
You get the idea.
Comment
⋅
This thing is taking the piss. There is ZERO reason this should be rising. Think about it. This vs ETH. ETH vs $, eos VS $ . Slow but not correct.
Look to sell the 50 area like a double top kinda thing. Could go past it who the fuk knows. Ill be selling it will be happy if I can get 27 that was my stop today when I seen that moon but looked at other things. Dont think ill be updating for a while out of all positions, relocating!
sykes
⋅
Broke out of this channel. But I think its a sell, still, atm no but long term it is.
Look to sell the 50 area like a double top kinda thing. Could go past it who the fuk knows. Ill be selling it will be happy if I can get 27 that was my stop today when I seen that moon but looked at other things. Dont think ill be updating for a while out of all positions, relocating!
VWuelfrath
⋅
Get out of ETP. It's manipulated because the only exchange that has it listed is bitfinex. This means you can wreck margin traders if you have lots of funds and that's what going on.
I don't understand how your wave 3 stops at 0.026 while it went to 0.031.
Otherwise I have also identified this trade as a good opportunity
sykes
⋅
@VWuelfrath, I used the line price instead of candles. Lets see what happens, lots of people are bullish on this, but you seen ETH last day or two has started to move so a good way to make some of that is short the alts vs that.