We took short today from 2006, which went fine. Second thoughts were dispersed when 3-day triangle went south. Following a nice 25% recovery from 1650, psychological level 2000 failed to hold. Scheduled sell-off is going to take control from here.
Expect strong bear trend continuation, with acceleration towards 1124 target.
is explained in the chart:
Kumo, AO, , DMI = bear!
, Fibo reveal the target.
- btc is rising
- 33K gas created every day and in pos it will be 165K
- money is moving to older exchanges like BTCe right now. Expect pump on older alts like LTC, PPC , NMC
- whale capital is leaving polo
- still unresolved technical / inflational issues
- sell the news article
- ETH rate per year in POS 100%. So 180 million tokens by end of 2017.
When to short? If you followed today's idea, you shorted at 2006. If not, now is a good time to short from 1935. Triangle was broken and as such, downtrend continuation is confirmed = less risk.
Soft stop-loss: 2000
Hard stop-loss: 2250 ( ) -> would signal a bull market. Until then, this is bear market.
Now we gonna short "Fear" phase down to "Capitulation" phase.
After rebound, expect another short down to "Despair" phase.
1870-1900 range has been visited, the support was thinning and sell pressure increasing. However! A small group of individuals with large capital decided that the price wouldn't break the 1H Kumo and minutes before each hourly close, they pumped the price just to close inside the cloud. See chart:
After they got invested heavily, it was just a question whether they are strong enough to profit on holding the price above cloud. Their strength, manifestated by 25k buy walls, managed to breach our Soft stop-loss level.
That is signal to reassess and be cautious. My reassessment: hodling the shorts tightly af! :)
A friend of mine, Esuvari, investigated the linear scale and found some interesting trend-lines I like. Thumbs up for him!
For now, it is suggested to stay calm and let the bull machos finish their game. They're shaking out weak hands out of the short position. Patience is a Virtue.
See our most recent analysis:
The Market will asses how good of an improvement they are. It's good though that the Market doesn't care about what we think.