ETHUSD: Trend signal and levels to monitor

May 27, 2018

ETH is trending down in the daily and weekly timeframes here, we can get a sizeable move down but there is significant support below. I'd be looking to go long once it's clear a bottom is reached, depending on how fundamentals evolve for Ethereum further down the road. Right now, it's the leading platform when it comes to adoption, ease of use by developers, and liquidity, as well as infrastructure wise. Risks are regulatory backlash against ICOs as securities (the ETH crowdsale itself could be up to scrutiny) as well as technical challenges and yet unforeseen possible vulnerabilities in any of the players involved in the ecosystem, being so vast and complex, and specially, risks surrounding the implementation of Proof of stake to secure the network, something yet unproven as far as security goes. The competition from ETH killers is still unproven, and way behind them in adoption, and infrastructure as well as development wise, so I wouldn't weigh that as a big risk for ETH, more of a remote one for now. We will have to treat each coin as a case by case situation, and analyze market data as it becomes available. Jumping to conclusions and investing too big in new players might be risky. Falling for hype, even worse...

Once these issues and others are ironed out, things could get interesting, fast...I'd consider diversifying into a few other positions other than the core long term #BTC exposure I plan on having, once the bear market ends, but, sizing it to keep enough exposure in #BTC, for the most part, as well as some skin in the game in mining, etc. The upcoming G20 meeting is of special interest here.
Technicals right now show we have potential support close to $300, so, I'd keep an eye on the forecasted path and timing for the move, and monitor sentiment and fundamental developments going forward.

Cheers,

Ivan Labrie.

May 29, 2018

Note

Waiting for buying to be absorbed here. Technical traders started buying but I believe longer term smart money is selling. They will either sell into their buying here for a sideways move during a few days, or let them buy and short again higher. If price erases last week's range, then buyers won.

Jun 10, 2018

Note

Looks like the fall resumes.

Jun 10, 2018

Note

Should hit 428-429 by next week.

Jun 10, 2018

Note

Published a new chart.

Jun 13, 2018

Trade closed manually

I'd watch, in cash.

Jul 18, 2018

Trade active

Target not met in time, we had another signal that also fails next...



I'm long ETH here, swapped some BTC for it.

Jul 18, 2018

Note

There's a chance #ETHUSD goes to $830.33 by mid August as well...

Nov 1, 2018

Note

ETHUSD, I'm still mining it, but returns dropped with price
s3.amazonaws.com/tradingview/snapshots/c/cL0djgLb.png
I think it has further to fall over time, but just not interesting to trade it, I'm waiting for it to bottom over time, once the Gox coins are redistributed back to creditors next year and the market is flushed on the downside. Likely to fall another 50% from here over time.