POLONIEX:ETHBTC   Ethereum / Bitcoin
Watch areas where the gann angles converge. Pivot lies at 0.0262, below PF1. The first support area is 0.01752. PF2 goes to 0.28 where the advance will halt.
Trade closed manually: Longs (@0.018) partially closed in 0.0204 range. Eth stumbled off the 3.0 arc, downtrend is immensely strong and had it bottoming in the zone I have as far as S1 support. Weak bull might try and rail it north a bit and even though the room for that upmove is limited to 0.022. Could still drift on the downside along the lower wedge's bound till 0.016.
what do you say about predictions of this guy - https://www.tradingview.com/u/BuyBitcoins/
he forecasts that Eth will fall down to 0.01
heglassedme Maver1ck
Based on what? Sounded very much out of this range, must be carrying the same weight as forecast from poloniex trollbox i.e no weight. I will perhaps be breaking down the waves to a lower degree as I see it. For now I see the contracting triangle positioned as wave X and falling wedge or expanding triangle at the bottom of a bigger wedge.
Maver1ck heglassedme
Will you still keep your PF1 and PF2? or lower them down, since based on your last Idea the price will not reach these points anywhere soon.
heglassedme Maver1ck
Targets above sit where they belong, right on the gann arc. They might or might not get hit very soon, depends on which gann angle holds up. Bearing on a general sentiment S1 support is strong here. Its wedge, and very yummy one in that it breaks to the upside. I like it and scoop up ethers albeit rather slowly.
Maver1ck heglassedme
I dont understand your terminology at all :) is the answer Yes or No?
heglassedme Maver1ck
Are you asking me will it hit 0.0265? Possibly. But it needs to break the wedge to upside first.
does this chart mean that soon the price will rise? what is PF1 and PF2?
heglassedme Maver1ck
Yes, after today's marginal low I'm expecting a move higher to 0.0265. PF1 and PF2 are the profit target areas where I'll be closing my longs.
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