SO over the last 49 days, about 1 million Ether has been mined.
~$200 million dollars worth. Did the world really get 200 million dollars of new value from it? Will we ever?
Probably not. All I can see is additional selling pressure.
THIS is what happened when someone dumped a measly 120k Ether in one hit.
cdn-images-1.medium....Vp7mC8dVbLQ6AMRg.gif
WHEN they tether pumped BTC to the moon the other day , eth only pumped 30 bucks on USD exchanges, that is bearish beyond belief. No one wants to spend REAL money for this.
LOOK at this.
Opening short after a monthly close below 200 would be a good, safe strat, I mean we should be buying support so only short if we genuinely lose it... I like a gamble tho and I'll probably miss the boat if I wait cause these moves happen so quickly sometimes. I'm biased enough to the downside to comfortably have a short open(i.e. it isn't stressing me out and I don't need to check a bazillion times a day). STOP at $226.
The bulls do have this in their favor so GJ if you've got the brass balls to long this and win.
~$200 million dollars worth. Did the world really get 200 million dollars of new value from it? Will we ever?
Probably not. All I can see is additional selling pressure.
THIS is what happened when someone dumped a measly 120k Ether in one hit.
cdn-images-1.medium....Vp7mC8dVbLQ6AMRg.gif
WHEN they tether pumped BTC to the moon the other day , eth only pumped 30 bucks on USD exchanges, that is bearish beyond belief. No one wants to spend REAL money for this.
LOOK at this.
Opening short after a monthly close below 200 would be a good, safe strat, I mean we should be buying support so only short if we genuinely lose it... I like a gamble tho and I'll probably miss the boat if I wait cause these moves happen so quickly sometimes. I'm biased enough to the downside to comfortably have a short open(i.e. it isn't stressing me out and I don't need to check a bazillion times a day). STOP at $226.
The bulls do have this in their favor so GJ if you've got the brass balls to long this and win.
Comment:
Here's a more refined strategy
Comment:
Wait for a crystal clear break of the inside bar and more critically, the daily support zone at $150, and that should reduce your risk significantly.
Shoutout to MrRenev for inspiration.
Shoutout to MrRenev for inspiration.
Comment:
Oh and we need to wait a few more days to confirm the inside bar. It looks very likely at this point.
Comment:
Well Eth broke down. However, shorts are getting dangerously close to "wait stop, fuck them let's squeeze" territory. Extremely risky I think to short around this area at the moment. Better to take profit.
Comment:
Well this idea went well.
Next entry?
Next entry?