JefeCaan
Short

Don't Get Confused

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
I'm not the kind of person that gets in the way of a good rally or a good fall. I'm more of a "Never slap a man while he's chewing tobacco" kind of person. However, this is obscene and I would feel guilty if I don't speak about it. So a guy spreads a 20,000 BTC order on some exchanges and triggers a buy frenzy. Nobody cares about the reasons, everybody jumps in with both feet. This is where I get very cautious. If you buy Ethereum at this point, you will feel very sorry in the weeks ahead. I don't claim to know if Ethereum has bottomed or not neither do I make calls like "ETH/USD is headed to $80 or lower". I'm just analyzing this on face value and I don't like what I see. You've been warned.
Comment: Congratulations to all those shorting Ethereum since $160!
Trade active
Comment: If you're not shorting this, I don't know what kind of opportunities you wait for.
Are you confused XD
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zoom out bud, look at where the real resistance is
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Your upper line appears to be arbitrarily placed and notwithstanding, has been broken. What's more, the move was on conviction with high volume.I would have placed the line more on say, $161. Either way, thanks for posting.
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JefeCaan julius007
@julius007, I have placed a line (dashed) at $161 as well.
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JefeCaan julius007
@julius007, Sorry that's $163.
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I agree, just check out longs, it looks like a very likely long squeeze -
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I think you shoulf place your stop loss way above $220 then. I agree this is a manipulated pump, but came so strong that there will probably be a continuation until around $200 (next big resistance). And then... Downhill frenzy.
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bsbcrypto bsbcrypto
@julius007, where did you place your stop loss? I hope you placed it 200+ bc I still think it is going to go past it. I am waiting for $200+ to start shorting though.
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