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.

  • 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).

  • DAO launch was false rumour:

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

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:

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:

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

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).

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:

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)

Thanks for the coffee, guys! ;D Received complaint that the address cannot be copied from the comment. Try the link:

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! :)
Great Job mate... Thanks once again for the updates and sharing!
+1 Reply
MarcelV swifteagle
No worries. Sharing is caring :)
Were you the guy that put the 20k buy wall to pump the price?
MarcelV Sasukeevil
VerthagOG Sasukeevil
the walls was pulled , maybe Vitalik trying to save his ship .
so now long or short ?
+1 Reply
VerthagOG VerthagOG
shorts seems the way now .
+1 Reply
MarcelV VerthagOG
Yes, short : ) Although stay away from all in. Explained in the analysis's latest commentary. Happy trading, mate! :)
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 ;)
Agree im actually long waiting for breakout for more confirmation! Still long term downtrend intact
+1 Reply
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