ETHXBT: Time at mode and fundamentals

This chart shows a potential buy setup if we break above the 0.022 handle with sufficient volume and momentum.
Right now, price is coiling below the resistance generated by the price action surrounding the DAO hack, so it will be a meaningful breakout once we go above this zone.

I'm long from a lower entry, and looking to add once we break out. Additionally, there's a weekly time at mode signal that might trigger, and the targets would be really lofty, so, try not to miss out on the move up.

Good luck,

Ivan Labrie.
Order cancelled

the 'hack solved' key level failed to hold prices
buyers couldn't break the 'DAO hack' resistance
no LOW above
Trade active:

I like the entry here, we found support at the hard fork key level.
Comment: Probably building for more downside to the next key level.
Trade active: Level holding here, we can long more, stops at 0.018
Trade closed manually
Comment: We did break down and hit the next key level as I feared. We need to see if we make a high on close, under the Bitfinex hack level, if not it could start to base and bottom. If it does, this is just a massive downtrend, an we can't buy any Ethereum until there's a fundamental catalyst to turn the tide.
Excellent chart Ivan. The news flags are essential to understanding this chart and how to trade it. Very well done. Thank you.
+1 Reply
nice chart.
+1 Reply
IvanLabrie PRO selfhigh05
Rather useful, it just needs more liquidity, more often, to be tradeable.
IvanLabrie PRO IvanLabrie
...and thanks :D
What do you mean "no LOW above"? Does that mean ETH is toast?
IvanLabrie PRO rivet.popper
For now, yes. It means also that the buyers couldn't form a daily LOW, above the DAO hack resistance, this tells me, this past event is still a concern or an underlying problem that prevents ETH to improve the investors sentiment and drive price higher.
What's the upper range here? I can't see from the chart. Thanks.
IvanLabrie PRO rivet.popper
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