jamiecassels
Long

I've heard chatter of a bottom in alts... perhaps... LONG ETHBTC

POLONIEX:ETHBTC   Ethereum / Bitcoin
Point : Alts have been under a lot of pressure lately and I've heard lots of pain from those holding bags. Originally I had thought alts would be really rocked with BTC mooning before these forks, but maybe they can rally at least temporarily from here. We are at major support, and there is positive divergence forming on all our daily indicators. I feel very comfortable taking shorts off the table here, I just have lots of trepidation going long but I'm doing it.

Counter point : 3 Day and Weekly charts still look pretty scary and don't really show any signs of bottoming. In fact, the ETHUSD Weekly chart looks really scary to me so I think that my ether longs need to have real close stop losses because things can go south quickly from here.

Good luck
Oct 26
Trade closed manually: Small profit. Will post charts later but looking bearish short term again.

Comments

I have a feeling we will see our old friend .07 again soon... Good luck.
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