mfibbs

Ethereum is looking bearish before it looks Bullish !!

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Hey traders! I must say that watching Ethereum develop into it's up or down trajectory is very boring ! I'm looking for the big swings and instead we are getting these 2-6 dollar moves which is why I haven't been really trading it. I gobbled up a whole bunch at around $104 using dollar cost averaging and I dumped half of my position at around $140. Made some really nice gains and I have been waiting to re enter a position. As I see now on the charts, I feel that we have a big move to the downside. I see two triangles and I believe we have finished our wave 4 and are in the middle of our wave five as we speak! With everything going on right now with COVID-19, I don't see any reason for us to have any sort of huge move to the upside ! Honestly, I haven't really paid much attention to Ethereum lately due to the fact that I see larger opportunities in traditional markets. There is more money to be made trading options on the S&P and the QQQ power shares rather than crypto right now. I just wanted to give you guys an update on Ethereum in the mean time, since this is my favorite coin to trade against USD. I really don't see much upside here in the short term. I see that we broke out to the downside of the smaller triangle on my chart. Then I see a classic retest of the breakout zone as per classic technical analysis . At best, we might retest $136-$137 again as per my elliot wave count which would still be another retest of the break out zone of the same triangle. Now !!!! If we break my larger triangle with conviction, WHEEEW!!!, put the women and children to bed and let's go looking for dinner!! I don't have an exact target yet, but it will be ugly!! If we break out for some reason to the upside of my larger triangle, I will buy back my half position and see what happens to the upside. This is not trading advice, just the way I see things!!! Set your fucking stop losses like you always do !! Peace out traders !!

Comments

So funny how you shit on my wrong calls but fail to notice the targets that were hit in other analysis’s. That’s a narcasistic personality! I never changed the trend in any of my ethereum analysis. I knew a trend reversal was coming and traded the swings on the way down therefore accumulating in a bear market! Millionaires are made in a bear market! I am a multi millionaire and proud of it! I made my first million through my high line auto brokerage business before I even got into Bitcoin. Took up investing and swing trading in 2008 and lost my shirt at first on the crash! I learned from my mistakes and realized that money is made in bear markets! So yes I have been investing and trading for 13 years. I started teaching myself TA in 2014! I’m only getting better and have so much more to learn! I still think your methodology gets you in more trouble than you benefit!
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Did you say you have been trading for 13 years?

I don't think you know the difference between what up and down means.

You wanna start coming on my channel to talk crap well it's about I start time to allocate some time to make some commentary on some of the lovely analysis you have been putting out... oh wait it's been a while, anyway I am most certain that it will be quality content that reflects these 13 long years of experience that you claim to have.

What goes around comes around... Elliott Wave is garbage, good luck with that.
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mfibbs AriasWave
@AriasWave, shit your pie hole! This is when no one knew where the market was going. I had accumulated over 550 eth at this time and I saw us for another drop on eth and I made an absolute killing shorting the Qqq with options contracts only to go long after I closed those short contracts at $170! Made over 600 k shorting in March while Eth was moving like a snail! My long term Eth investments has only added to my wealth. Crypto was a game to me at this time! I had about 16 btc and accumulating eth was my goal. After this breakout, I never posted another eth analysis, cuz I killed it in the stock market. I watched my eth rise and rise and rise and then my dad passed. I went through a 6 month depression only to find my either worth 2k. I did almost zero trading during that time.
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