fundimintals have not changed, the confidence in the entire project has not recovered & i dont expect it to recover anytime soon. Demand is down , supply has essentially doubled with the classic ETC being supported by the Bitcoin community.
We will open a position at 2000-2015 with target being 1850.
position Short - 3/1 risk Vs reward.
Major resistance - 2060
Major Support - 1800
As always wit the of the Altmarkets we will be looking after the trade constantly until the position is closed.
if your looking to take a short position 1995-2020 is a good entry to short on current bounce.
will be adding if it gets to 2010-2020
There is no volume at all, its the lowest i have seen in months, we will take some profits at 1900-1920, it will DeadCat there.. we will short the bounce as long as volume remains low.
will take 50% profit at 1900, will reshort that 1950 range with our profits.
long term target still 1800-1850 over the next few days.
first target for profits 1920... at least 25%.. took profits yesterday at 1960 shorted the top again, based improved to 2040.. have some room to get out now if some bullish news comes out.
if it does not bounce hard at 1900 will let the rest ride.. looking to close fully at 1850-1860.
Based on the evidence i would imagine there is going to be some legal action & possibly some people going behind bars.
We will be adding to our short on this bounce as this news is fresh & not out to most of the community yet.
I suggest anyone interested in Eth read the following & examine the evidence for yourself.
The BlockChain Cant like..
target revise med term. 0.005
next support level 0.01 short term
long term support 0.001
good luck all
we have another leg down.. i have 50% of position still open, take profits from 1900-1850 from where we opened.
will take some profits at 1800 test.
sorry for the late update... Weekends are all always big, no time to trade :-)
had a lot of fun hope everyone got out & had a great time.
not much has changed, the moves up have been rejected over the weekend, 1950 was major resistance as expected.
This is a perfect example of finding a good entry & holding that trade long term.
everyone has their own style but i like the longer time frames only. we pick the the trend on the longer time frame & stick with it.
there is many here trading much smaller time frames. i dont like that at all as the chop will cause u to get in & out all the time, its just not profitable long term.
on this trade im still expecting 1800-1820 support to be tested.
the volume is very poor & demand is low. the overall trend in still bear, Greedy has been in a bear cycle for sometime now.
1850 close 50% of position ... that would get us closer to the end of this trade with the remaining we will hold expecting the 1800 test.
Major resistance 2000
major support 1780
good luck all
there is no volume at all, very little interest at these levels with focus on other coins right now.
targets not changed we will take 50% at 1850 & the rest at 1800 test.
if it stops to dump very hard with big volume & market orders will revise targets if im online.
Good luck all, next stop 1850..