lowstrife
Long

Plunge Protection Team

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
4498 views
40
4498 19
Not a bad area to start accumulating ETH around the volume consolidation earlier last year. I like it. Will be all-in by 310 or so.

The rising open long interest on Bitfinex worries me though. Wonder if we'll see a cascade to finish it off or not. Over 100,000 eth longs opened $440 through $380.

That bear trendline is awfully close and will RIP once we break it. 500's would be nice.

My first buy just hit at 368.

Not investing advice, risk is your own, this is my blog, etc, etc.
Comment: This would also coincide with the bottom of the ETHBTC channel. This channel doesn't have much life left in it I think though. Probably the last grasp before years of consolidation.

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Sold half at 498
Comment: Sold a quarter at 515
Trade closed: target reached: Sold the final 25% at 532

375 avg entry -- > 511 avg exit = 35% ROI

thank you come again. Probably gonna be the last setup for a while. It's unfortunate my entire bidrange didn't get hit so I was not near full size on this trade, but still, can't complain.
Comment: Oh and now that I've sold, we can now rally to $650+ over the coming months
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lol this market is hilarious
ath on June 4, possible?
+1 Reply
Clean AF, as always. You don't always have to be in a position, and @lowstrife proves just that.
+3 Reply
Reversal is set?
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Great call lowstrife.
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lowstrife Enhancement321
@Enhancement321, :) thanks
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Have you now given up the deep dive scenario where the price decline into the second buy target?
+1 Reply
@aknnig, Yes. I am no longer interested in buying there anymore.
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aknnig lowstrife
@lowstrife, Thanks for the reply. Good call, as usual :-)
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Seeking that 300 POC so badly.
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Might be too early to long IMHO freefalling till a Market maker orderblock low $300s
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