MarcelV
Short

Great entrance for ETH Short

POLONIEX:ETHBTC   Ethereum / Bitcoin
Hi All,

After our successful long position from 1540 to 1750, we are now going to short. Because we are still in massive Behemoth down-trend, we will have two targets for our short. One medium-term, one long-term.
Entry: 1730-1760
1st tgt: 1520
2nd tgt: 1124
Stop-loss: 1850 -> I believe the upside is limited from here. Anyways, 1850 would break major trend-line & invalidate our trade.

TA:
  • Strong Bearish Divergence.
  • Double rejection of 70% RSI .
  • Intermediate trend-line hit.
  • My opinion is BTC will continue its uptrend after today's massive shake-out (which every1 waited for to happen).

FA:
  • DAO launch was false rumour: https://twitter.com/stephantual/status/725269613471256576

For more fundamental and technical analysis , read Behemoth short, which we are biasing all our subsequent trade ideas on!

Behemoth short - sell the news #2

Happy trading! :)
Trade active: Trade is looking good!

Btc keeps shaking out more weak-hands by retesting its lows, while eth fails to move upwards. Btc was 2960 when I started opening my position while eth was 1760. Now btc 2918, eth 1722.

Reason? Gigantesque mind-melting Hidden bear div on 4h + overbought:
snapshot


If big profits are to be achieved, sweating on intra-hour noises is to be avoided. Hold-on tight to your shorts. If eth goes up, go get some fresh air or good sleep. Long-term (1d) TA is on our side, medium-term (4h) TA is on our side, short-term (15m) TA is on our side.

Happy trading! :)
Comment: BTC dropped 100 CNY. Disgusting news for the whole crypto eco system.

ETH/BTC price hasn't moved. Seems like the "smart bagholders" (oxymoron) realize it's not worth holding eth even if btc drops, because the $ value of their holdings is decreasing.

There is a notable chart from Chinese trader they call "Master" and "Teacher", predicting bitcoin's intermediate rise:
http://prnt.sc/axrz6b

FWIW, we are holding on to our position.

Happy trading! :)
Comment: 1650 was hit. Now retraced to 1680.

The underlying market structure of ETH has proven to be of extreme weakness. Price cannot hold this level.

Fun: Add on bounces -> its not good investment strategy though, may lead to overleverage.
Simple, yet most effective: Keep the position open until it hits the target.

Happy trading! :)
Comment: Took some profits at 1610.
Great reward 150 pips (1760->1610).

Will be seeking to reenter soon (definitely when 1600 breaks). Need some time to chill :)

Happy trading! :-)
Trade active: Bitcoin is rising and looks healthy. We can expect 2950+ tomorrow.

Ethereum went quickly down to 1580 and then bounced. It now looks that price 1694 doesn't have any buyers. However, the sellers are scared by the multiple buy walls that keep moving the price up.

I will be entering my shorts at 1700-1720 range again. Mostly around 1710.

This time we should finally hit 1500 and see what happens next. If that floor blows, we will be looking at target of 1124 on 5/5/16.

Happy trading! :)
Comment: P.S. If 1700 doesn't break in next 5 mins, I will start entering short positions at 1690 level, because the volume is really low and once buy walls are pulled, liquidity is gone.
Comment: Price didn't break 1700, so we started adding at 1695. Within 5 minutes, prices started falling. 1642 was hit.
What a good 2-hours long trade.
Price is now at 1650.

Because bitcoin dropped 15CNY, it is wise to consider reducing a part of your position and save that margin for adding more to short in case we bounce (might not happen, though). The trend, however, is intact = down, doom, goblintown.

Happy trading! :)
Trade closed: target reached: Hey guys, a quick update! We are closing our trade with profit.

Some news I discovered and announced 20 minutes ago in the Cryptocurrencies chat (I would announce here too, but didn't have the confidence).
Eth is gonna bounce http://prntscr.com/ayfu23
http://prntscr.com/ayg4ar

It seems to be located in a triangular formation. The formation is being held by some big players who put huge buy walls on Kraken to keep the price at this exact level. We are not going to fight that or try our luck here, odds are 50/50 that this will go down or up. I don't trade 50/50.

So, taking profits now at 1610-1620 range!

Wait for next trade idea!

Happy trading! :)
Comment: Here is the current outlook, slightly bullish (keep in mind, please, that longing is riskier than shorting because we are in a long-term downtrend).

snapshot


And thank you everyone who wrote me. It's motivating. If you want to invite me for a cup of coffee, here is one way to do it:
126ogpgpaGVdgbE1BfLkBLLAwg46qTKTVH

Happy trading! :)
Trade closed: target reached: Hey everyone, yesterday I started building a risky long position from 1640. I know that some people did not believe long is possible and I also some of my followers joined me in the long position.

This is to all my followers: target = reached. Closed at 1725 - 1735.
I recommend closing within next 30 mins unless we break new highs.

Yet another beautiful 90 pips profit.

Happy trading! :)
Comment: Caught a good exit price (even though with just small amount, makes me happy) http://prntscr.com/ayl87k

Thanks for the coffee, guys! ;D Received complaint that the address cannot be copied from the comment. Try the link: https://blockchain.info/address/126ogpgpaGVdgbE1BfLkBLLAwg46qTKTVH

It is perfectly okay to start a short position here since the price is good and we are in a downtrend. One thing to be wary of is that imo Bitcoin has topped since yesterday's 2940 and the 2945 was just a shakeout... I think it will drop slightly again. Let's be careful of that and its effect on eth/btc pair. So while short is okay, do not go all in. Because that is a bad habit and if eth had another up leg, you wouldn't feel good about the position for some time and could close a good long-term short prematurely. Anyways, enough rumble!

Happy trading! :)
That's the best short opportunity in a long time! Nice TA
+1 Reply
MarcelV PRO SantaShorts
Thanks for the appreciation! :) It's also good to know that other traders think the same.
Reply
Again, I shorted too early (0.0173) :(
+1 Reply
MarcelV PRO Sasukeevil
That's good entry! When I started writing this idea, price was 1760. By the time I hit publish, it was 1720. Good entry there, I believe. All will be good, this idea is going with the long-term bearish trend, not against it. So the risk is lower.
+1 Reply
Short so soon?
+1 Reply
MarcelV PRO rexlomax
Yes. :) Did not go all in, only 3/4 of my usual position. A consolidation with some bounces is expected after witnessing such a sharp move up. The slope of the consolidation, however, will be tilted down.
Reply
hidden bear div?

snapshot
+1 Reply
MarcelV PRO Sasukeevil
It is idd hidden bear div. Great observation, m8! :)
+1 Reply
Great predictions lately. I just shorted at 0.01727.
+1 Reply
Thank you! I recommend shorting from 1730-1760. Nevertheless, 10 pips will not matter in the large-scale :) Happy trading!
Reply
maybe not a great entrance after all haha
Reply
MarcelV PRO TheBanker
That's constructive, yeah, thanks for the input!
Reply
MarcelV PRO TheBanker
Bitcoin (2855) 100 CNY lower than when we entered and ETH (1716) also lower than when we entered. Our trade is generating profit even after experiencing "bad news". The underlying market structure is extremely weak. We are in long-term downtrend.
Reply
MarcelV PRO TheBanker
And not to be rude, I do wish you good luck with your target 0.1 ETH/BTC, sir. The entry points 2900 and 2250 were pure gold. Happy trading! :)
Reply
TheBanker MarcelV
hahahahahahahaha don't be so sensitive
Reply
MarcelV PRO TheBanker
Hahaha what? While you are laughing, ETH/BTC is dropping to 1650...
+1 Reply
SantaShorts TheBanker
You still think so?
+1 Reply
Detailed Info !!
Reply
why would it bounce at 1580?
Reply
MarcelV PRO Sasukeevil
I don't know, I was asleep. Perhaps some panic or manipulation on thin order books, who knows...
Reply
Agree im actually long waiting for breakout for more confirmation! Still long term downtrend intact
+1 Reply
MarcelV PRO rexlomax
We are in agreement! :) Thanks for the comment, good to know more traders share the view!
Reply
so now long or short ?
+1 Reply
VerthagOG VerthagOG
shorts seems the way now .
+1 Reply
MarcelV PRO VerthagOG
Yes, short : ) Although stay away from all in. Explained in the analysis's latest commentary. Happy trading, mate! :)
Reply
VerthagOG MarcelV
yes short and I am green again !! Cheers mate but u should have updated about long also . I was shorting till bottom of 16700 but seems they would be green again ;)
Reply
Were you the guy that put the 20k buy wall to pump the price?
Reply
MarcelV PRO Sasukeevil
No.
Reply
VerthagOG Sasukeevil
the walls was pulled , maybe Vitalik trying to save his ship .
Reply
Great Job mate... Thanks once again for the updates and sharing!
+1 Reply
MarcelV PRO swifteagle
No worries. Sharing is caring :)
Reply
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