A quick chart!
Our Behemoth short is still valid. Looking at the recent development, I feel confident enough to pronounce this as a good short opportunity for those who are not short yet. I myself have added a considerable amount of shorts at 2250.
The is holding. It's breakout is our hard stop-loss. (In Behemoth I marked it at 2250 price level, but we rose too fast, the is still at 2300.)
Target is 1124.
Ok, now why would you want to short this?
From 1H TA perspective:
- First, we have the strong trend-line which has never been broken before.
- Second, there is a great DIV on .
- Third, KDJ is showing overbought and turning red.
- Fourth, the infamous pattern seems to be reaching its completion -> the pattern sux and so I think it won't complete fully.
P.S. For more analysis on ETH, read-up on the latest long-term chart:
RSI is in downtrend.
The major bearish trend-line will hold.
Im on my phone. Just letting u know that I added more shorts here just recently at 2175.
I believe that this will not go above 2200 again. So now is a good time to go short. Our Behemoth short trade is going to develop right after whales quit their little games.
If you can get a solid entry at around 2160, I will be looking to add some more shorts there as well.
So I closed the short-term short at 2066 and longed there for scalp. Target for close of long around 2150 and reshorting then, level for reshort depending on situation.
I am very sorry I cannot update you guys in here at the same minute as I close the trades.. but its not possible. Wish there was an in-built integration between poloniex and TV :)
I do, however, share my live trades almost immediately in the TV chat room called "Cryptocurrencies". If u are active there, its easy to follow me.
P.S. If you didn't close at 2070, keep the shorts open imo. Bounce above 2100 is not 100%... it would be ridiculous to close at 2100 and reopen at 2080. :) If you closed below 2100, try reopen at around 2150, but be ready to jump on the train if we go south with acceleration. Especially if the support trendline gets broken.
P.P.S. Long-term I am still SHORT and I do keep a special account just for that. Trust me. It may doom any time soon.
Btc broke 2800CNY!!!
Exit longs, now. Be very careful, try to get into short :)
Closed all shorts at 2010. Went long at 2020, will be closing at 2100.
Reshort area 2100~2150.
Happy trading, enjoy ur profits!
Reason: My wounds started hurting a lot, I took analgetics and will be hitting the bed. Next update no sooner than in 7+ hrs.
Happy trading! :)
I was little bit wrong. 1720 was not the bottom. Sorry for that. Not sure what exactly happened, because I was sleeping, so can't comment on that.
On the other hand, we perfectly hit the major Gann line, same as with 1650. This definitely is the second major trend line, forming a triangle. (Just press play on this published chart, you will see perfect hit of surgical precision).
So, what to do now? If you longed with me, here you can close with small profit. I will take the risk and keep my longs for testing the top of the triangle.
Happy trading :)
I understand that RSI, Stoch and KDJ are all in the overbought zone, and also the whale's move on Poloniex suggest it will fall down, but I think it'll be just a minor correction before it rise up again.
I'm still learning on this and really want to hear your opinion.