Today we will short ETH from 1850-1950, depends where u got in -> hold the short or enter now at 1875.
1st tgt: 1610 ~ where the fake rally started from.
2nd tgt: 1410 ~ previous support.
TA in the chart.
- for exit-pump completed perfect.
- on 4h -> signals potential reversal.
- Confirmation from , KDJ and DMI is about to happen soon, very likely.
- Hard has happened and the new chain where dao is refunded has won.
- Ethereum Classic is still running and has its own community.
- 12mm ether is being refunded and exchanges are about to re-open eth deposits.
- While we can chant that the evil hacker guy was beaten, celebrations will last briefly. This is our first Hard and brings nothing good for the community. Expect ETH to be mocked and taken less seriously by investors. Seeing how easy it was to do a hard-fork, this provides a potential instability and fear for the ecosystem, dapp developers and investors. Expensive infrastructure and dapps were expected to be built on ETH, even banking systems. But a possibility of another HF brings in a huge risk that some institutions will not be willing to undertake.
People invested in Dao, not Eth. Their funds were almost lost because of a fault in computer code.
- Why would they hold investment in eth? they invested in dao.
- Why would they hold eth just to reinvest into another computer code based dao to get hacked again? they got burned once, mistake should not be repeated.
I expect capital to flow away from eth in the near-term and the long-term. At least until we see a first major successful dapp that doesn't get hacked.
The current massive bulltrap and extreme loanbooks and orderbooks fakery explained in a screenshot:
(sorry open it and read it, its worth it even if its not clickable -> retype into your browser)
I added to my shorts at 1965.
Reason: whales just used ALL possible ammo to force noobs to buy their expensive ETH. BTC loans went to only 5 BTC available for a few minutes. Lots of shorts were squeezed. Now there is natural sell pressure from people getting rid of the Dao Eth and the whales have only 1000 btc more left on margin lending. http://prntscr.com/bw232l
RSI shows another, now even more significant Bear Divergence. We are topping within a top. This is very over-heated and while it could still keep going further, until literally all the btc margin available is lended, the risk:reward on going short here is one of the best. When this pumping "bubble" pops, it will fall haaard, until BTC margin available is restored to 5k+.