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.
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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.
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Lost like 4% in BTC. I'm out.
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Back to the weekly bear trend in ETHBTC.
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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.
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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.
I'm not liking this trade of closing out the ETH long. Volume spike and lack of price followthrough on BTCUSD are showing signs that this could be a pretty big short-term/intermediate-term high. Plus ETHBTC paused at making a lower-low because ETHUSD is showing accumulation signs with declining volume and tightening price range ahead of the EEA "Show-and-tell" Meetup in 3 hours...
IMO you just closed out before a flippening event.
GreaterNinja
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@Jesse_Livermore, I'd have to agree with this. Fundamentals and tightening bbands + volume + failure to break lower support + triangle forming says a breakout can occur. Will have to see what happens in EEA NY today and Devcon 3 Nov 1. Technicals on btc/usd say its losing steam.
IvanLabrie
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@GreaterNinja, maybe it bottoms in the ratio soon, but won't hold it for now, could buy again if it flashes a clear signal.
@IvanLabrie, where do you see (potential) support in this downtrend?
IvanLabrie
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@RCP_, check my ETHBTC chart. Maybe 0.0151 long term support.
werapui
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Please post more of these analysis, it is one of the best I have seen in tradingview and I follow it everyday. Sending love from Spain!
Young_Satoshi
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Ivan is fantastic at making massive losses. What you don't see her in TV is his massive loss making trades. Furthermore he can't even withstand constructive discussion on trades. I'll pass on this guy.
IvanLabrie
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@crypto.888, massive losses...I'm up 2200% YTD mate. Called most bottoms in BTC to the dime, who are you? haha
Unlike the scammers at twitter and old time scumbags charging people and making vague claims or front running their clients in pump groups, I'm a real trader, and I'm transparent and accountable. Nice try, but try harder next time mate.
IMO you just closed out before a flippening event.