MarcelV
Short

Styx calling names... GAS...

POLONIEX:ETHBTC   Ethereum / Bitcoin
"Gas, you are awaited." Styx

It seems like eth is done. After a paid bullish article in NYTimes, eth cought its last bullish breath.
- Trendline was broken, yet hammered on 4h. -> should have burst upwards, did not.
- AO, ADX , RSI failed to confirm bull. KDJ signalling overbought.
- Kumo proved to be resistance.
- With no bullish news ahead of us, this is the OTE             short zone.

As can be seen on the following graph, whale capital is leaving Poloniex wallet aka moving to BTC:
http://www.bitcoinrichlist.com/address/17irB8xLxhVRerCoUyypnmpoak3QBpVp2z?charttype=balance

ETH unfortunately has been facing some technical issues lately, e.g.:
https://twitter.com/SDLerner/status/714239718280536065

Perfect trade is ahead of us. 1st target 2250, 2nd target 1850. Soft stop loss 2830. Hard stop loss 2950-3050.
Time to sell this overpriced gas :)

Happy trading!
Comment: on 4h we are looking at a significant doji after an extended move to the upside. supports our short setup
Trade active: Bears should be extremely observant in next few hours, possibly cautious. We have just witnessed a $25 drop in BTC, aka 6%.

If ethxbt breaks 2850 it might invalidate our trade and we will have to make new analysis. On the other hand, if 2850 is not broken, it is a very bearish signal for eth.

Happy trading!
agree, if 4hr doji confirms when it closes it will retrace at least and could bring the pain upcoming days.
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