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BryanCutter
Sep 19, 2018 8:37 AM

ETH TO $100?! Short

Ethereum / DollarBitfinex

Description

Looking at fib retracements typical to Ethereum, it would seem that the market bottom is clearly not in yet.

I only pray that I'm wrong - that would indicate a total market reversal.

Otherwise strap in for an epic short. I know I'm going to put 100% of my funds in BitMEX for the REKT!
Comments
WealthHustler
$100, wtf. really? it sounds scary. very very
BryanCutter
@WealthHustler, From a larger viewpoint, we've already retrace to $200 from $1300 (85% drawdown). $100 is simply a (92.5% drawdown), a mere blip in the current trend.
WealthHustler
biffbifford
@BryanCutter, The weekly trend is definitely Bearish; except buyers are stepping in in droves whenever ETH falls under $200. We have not capitulated yet. I have a bearish bias but the longer price and time continue to move in the current range(196 - 215) we are in a neutral probability zone. The accumulation at these levels is evident in the volume profile. The buy orders are at around $300 and the sell orders around $160. Who will blink? I am starting to think this is bottom even though I have a predicted price of $25. I enjoy your analysis! I am half-tempted to start dollar-cost-averaging into ETH. Half-tempted!
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