Time to Short Eth Dip!! Profit taking happening ! Spot selling.

POLONIEX:ETHBTC   Ethereum / Bitcoin
3128 17
Having gone long 5-6 hours after the hardfork based on the fundamentals of Fork being a success but more importantly the fact that DAO did not dump upon pulling out over 40 million dollars of refunds. it was a good Bullish single.

Closed that long at 2050, maybe a little too early but based on the Email received from kraken of a possible hack i thought at that point the best option was to close in case it was confirmed later that funds had been compromised which would have been very bearish for the entire market.

Shorting Here at 2150 , first target 2000 to take profits second target 19000,, stop loss 2225.

As always wit the volatility of the Altmarkets we will be looking at after the trade constantly until the position is closed.

Comment: due to the nature of the pump which looks like an Exit pump, moving stop higher here.
Trade active: i had some order hit over night, about 30% of the position, shorted the bounce, base much more healthy now, still under water currently but not by much, need a small move down now to go in profit.

it looks like we are going to trace a bit on the 1-2H chart. support down at 2150 to be tested again.
Comment: 2000 support slowly turned Resistance. getting rejected , next target 2150
Trade active: I been supporting & pushing the ETH classic chain constantly on the main chat as i genuinely believe that Forking was pure greed to bailout big holders, there was nothing wrong with the original chain, forked only to bail them out.

I got Eth Classic at 30cent, sold some at the top , keeping rest as i have already recovered the investment & took profits.

Best play now on the Greedy fork is to let your Short ride, we are going much lower, this is very Bearish for the Greedy chain, now there is an exact copy that does the same thing but its 12 times cheaper, why buy it at 13$ when you can get it at less than 1$.

i expect classic to be going up & the greedy chain to take a big dump.
Comment: New Markets added on eth.
Comment: not the classic this is insider info on polo testing the future forks.
Trade active: Right quick update. we took profits on the original shorts at 1850-1900..

Shorted again last night at 2100. its still a very good short entry here as short & long term it looks terrible.

i Been pushing ETH Classic for over a week now on the TV chat, long before it was listed on polo,
Happy for the people that got in before the listing or at the bottom. there was so much potential there.

If you are interested in ETH now the classic is the one to buy, the volume is now almost the same on Polo, the hash rate is rocketing & its currently the most profitable coin to mine which is going to increase the hash even more

Reasons to buy

1. Chinese Exchange listing tomorrow,

2. we are pumping now

3. Bitfinex listing next 24-48 hours

4. Volume the same as the greedy chain.

5. it does the same thing as the greedy chain but its 15 times cheaper.

Reasons to Short greedy ETH Now

1. Classic pumping , its the same thing much cheaper

2. Panic sellers to dump if this continues

3. sell the fork at 13$ buy the same thing at 1$

4. Supply effectively doubled over night but demand is down

currently we are holding spot on Eth classic & shorting Greedy banker chain. perfect trading opportunities. take profits when you feel there is reversal
Trade active: Quick update... We took profits yesterday at the bottom of the target area between 1860-820.

with the price being protected & the target reached as per chart.

Today we shorted at 2015 where the pump was out of steam, also bulish news below, target on this current short 1900-1940

Charles is a founder, one of the original founders of ETH, he is highly regarded in the crypto space, he is extremely important in the long term for the ETC project.

still holding ETC, the volume is double the Forked chain. there is huge demand. will be holding these for a while unless there is some major bear news like a security issue or something of similar nature.
Trade active: the short yesterday at 2015 entry went perfectly, have taken profits at 1910 50% of position, will keep the remaining position open,

final target will be 1840-1870.
our current stop loss moved to 1975. will insure profits are looked in if it breaks out.

will be adding to the short at 1950 on the current bounce. we are bleeding down slowly..

Tip Button added as requested by a Few ... Really appreciate it, i never had it before, added now.. thank you.

i just charts to support the Crypto Community & makes my trades more easy to understand with a plan.
Trade active: We are reaching a critical level now. we are testing the 1915 support level once again.

1930-1950 is major resistance on the shorter time frames, we been bouncing between 1915-1950 ,
both these have held well.

I have been improving the short base price, taking profits at 1920-1910 & shorting the resistance area, have improved the base price of the trade from 2015 to to 2085 which is a great improvement,
once the support & resistance was identified trading the range was fairly straight forward.

Current stop is not at 2050, i expect support to break, target 1850-1825 to take profits.

if those support levels break we will test 1550-1600 which will be the next level.

This will be a long bear cycle with fundamentals extremely negative for the bulls.

PS. sorry for the late update, weekends are Thursday-Saturday here so i have had a mad one, back to normality till next weekend. :-)
Trade active: The little BTC fomo short last night was a thing of Beauty, helped out ETC move which happened perfectly & also gave us a nice opportunity to add to our Greedy banker Eth short.

we took profits last night at 1890 as BTC started to fall, added 30% to the ETH short at 1960-1950 with BTC starting to recover which will push ETH banker back down, expect to drop much faster this time.

Target to take profits all the way down starting at 1885 to 1800.
Trade active: we have been hitting our targets beautifully at the bottom 18000-182000 range, base price now over 2550 but position size still fairly large. 20% less than opening our trade at 2015.
essentially we have a free trade here now which we will allow to ride on a longer time frame,

the bounces are getting smaller , we will be adding to our short at 1890-1900.

if your opening a fresh short target stop 1950. take profits 1820

Major support 1800

major resistance 1900-1920

P.s Bearish article for Banker eth on Wall Street Journal
Trade closed: target reached: Amazing trade here. one of the most profitable of they year.

the bottom was 1400 range, really enjoyed this one.

Will be shorting the top now, will start a new chart now.

thanks all for following this epic trade.
ya time to short again
That wick on ether makes it look bullish as all hell. Thanks to all the people that got destroyed on etc from the dump.
I think eth is going to go higher. Chart shows that its in a falling wedge. Looks bullish. ETC is starting to look like a bailout coin. Got pumped to around 3 dollars and probably dump back to sub 1 dollar.
+1 Reply
Wrong !!! heheh ETh dumped.. ETC support holding well, looks bullish
+1 Reply
Galvin Galvin
Looks like what I said 13 days ago is starting to play out. Just taking a bit longer. Not sure about sub 1 dollar, but its possible in time. Ether already broke resistance.
Galvin Galvin
Latest charts are showing ether bearish, rising wedge on 4 hour. Falling wedge on etc. Looks like we're in for another ether down cycle soon.
I will be lighting a candle tn for ETH (HF)...he was a good man. I'll always remember the good pumps. RIP
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