ETHUSD: Long again, after covering ETHBTC shorts in profit
We had a stint with the short side recently, a quite succesful one, but at the bottom price action suggested that strong buyers had entered the market, so I covered shorts and flipped long $ETHUSD. Now a weekly signal is active and we can resume the last portion of the monthly uptrend to its eventual top -at least for almost a year after hitting it-. Targets on chart, between 863 and 1741.22, to be achieved by the end of November, or sooner. If we don't have any bearish surprise and drop under support on chart, we will surely achieve these goals.
Ethereum's coming fork, which will grant it with some interesting features, would be only the first part of the initially dubbed Metropolis upgrade, but comes at the right time, when $BTCUSD is already surging, so it makes sense to see both of them rally together while this trend lasts. My signals indicate the longer term trends in crypto are about to end, and we might enter a lengthy bear market phase, but careful study of multiple timeframes, sentiment and fundamentals gives me confidence that there's one last, and particularly sharp rally in the cards.
Best of luck,
Ivan Labrie.
Ethereum's coming fork, which will grant it with some interesting features, would be only the first part of the initially dubbed Metropolis upgrade, but comes at the right time, when $BTCUSD is already surging, so it makes sense to see both of them rally together while this trend lasts. My signals indicate the longer term trends in crypto are about to end, and we might enter a lengthy bear market phase, but careful study of multiple timeframes, sentiment and fundamentals gives me confidence that there's one last, and particularly sharp rally in the cards.
Best of luck,
Ivan Labrie.
Comment:
Comment:
Trade active:
Comment:
$ETHUSD back at my 'oral cancer' level...haha. Just a graphical depiction of my extreme emotional response to price action, as price broke from that level, it accelerated, and hit weekly support. We bought margin longs at 292.19.
Emotions provide good signals and important levels to consider in our trading, they are the mechanism that your subconscious mind supercomputer uses to alert you of something big.
$ETHUSD back at my 'oral cancer' level...haha. Just a graphical depiction of my extreme emotional response to price action, as price broke from that level, it accelerated, and hit weekly support. We bought margin longs at 292.19.
Emotions provide good signals and important levels to consider in our trading, they are the mechanism that your subconscious mind supercomputer uses to alert you of something big.
Trade closed manually:
Lost like 4% in BTC. I'm out.
Comment:
Back to the weekly bear trend in $ETHBTC.
Trade active:
$ETHUSD is ready to move! This is potentially huge...
I've been buying $ETH for the last 2 weeks, added the last entry today at $336.
I've been buying $ETH for the last 2 weeks, added the last entry today at $336.
Comment:
$ETHUSD can go a tad higher still, by the 28th it might consolidate for a couple weeks
Depending on how this pans out, we will resume the weekly rally after a few more weeks, targets on chart.
