IvanLabrie
Short

ETHXBT: Short or sell for Bitcoin here

KRAKEN:ETHXBT   ETHXBT
1954 13 24
9 months ago
Analysis on chart.
There's one day left for this uptrend, the activity in the top reeks of profit taking, and the enviroment is that of a topping formation, with people getting very emotional and hyped about it, and complacent, and 'happy' with its progress.

Time at mode weekly setup time runs out in one day, at least consider selling if you're a holder.
Thank me later.

Cheers,

Ivan Labrie.
Time at Mode FX

PS: Contact me privately for consultation, mentoring or trading signals. See my profile for details.
9 months ago
Comment: Watch for 0.0387...if not hit in 3 days, it might further confirm the retracement or reversal idea.
9 months ago
Comment: Time's up, and pullback.
Now, let's see how the day closes, and how it moves in the coming days.
9 months ago
Comment: The retracement has been contained for now, this is a considerably bullish bar if it closes like this.
I'd still look into getting out of longs if in.
8 months ago
Comment: We can take the short now, stop loss can be fairly tight.
8 months ago
Comment: New daily high doesn't look too good, but overall we could see continuation down.
I'm not in any position for now.
8 months ago
Trade active
8 months ago
Comment: Very nice progress with our shorts.
8 months ago
Trade closed manually: Out of shorts for the time being.
8 months ago
Comment: Support breaking down, we might see lower prices.
8 months ago
Comment: Shorted 0.03, sl 0.035, covered 0.02274.

We might see new highs considering the recent price action.

See Tim West's publication on this subject for more information. This setup was more of a warning for longs to book some profit before a fall.

Clearly the sentiment extreme and the technical setup were correctly diagnosed.

Cheers to everyone who sold and shorted...and even more to those who flipped long at our exit!
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
CryptoSpain
9 months ago
snapshot
Reply
CryptoSpain CryptoSpain
9 months ago
Maybe It will top between 1.61 and 1.78 fib extension from wave XA
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IvanLabrie PRO CryptoSpain
9 months ago
Might pan out.
Reply
fennic PRO
9 months ago
now peaked temporally at 0.3690. I guess we could be near the top.
Tomorrow Monday, in 12 hours or so..., ETH will be available at Bitfinex exchange, so it's difficult to know how ETH price will respond to this. I will keep an eye on 0.0387 level
Reply
IvanLabrie PRO fennic
9 months ago
The most important thing is timing though, and the probability of a large retracement is valid.
We'll know soon enough.
The idea is to be careful if holding and plan an exit, and don't get complacent up here.
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hubavka
9 months ago
Are you saying it will retrace all the way back to 0.002?
There will be a correction for sure, but I don't think it will dip bellow 0.01
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IvanLabrie PRO hubavka
9 months ago
The distance is not proven yet...only a possibility, after the time of the rally matches the forecasted duration.
The blue boxes are strong support levels, that can hold and defend price if bulls are still strong. If they are taken out, we can be sure of weakness in it.
The horizontal lines and smaller boxes, those are also important and could serve as support, but not as significant.

You can see examples of this timing method below:

(note the red vertical line...time runs out and it's when the downtrend accelerates)

Pound index: Interesting level to short and then reload longs


After the last day, price went down.

GBPUSD: Exhuberant rally into monthly resistance


After downtrend time ran out, price went up:

GBPCHF: A very aggressive long trade into a weekly/monthly trend


This would be akin to falling back to 0.002 (after target hit, back to the horizontal level where the uptrend started)

GBP Index chart: The Pound might be starting a long term uptrend
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hubavka IvanLabrie
9 months ago
Nice charts, how much time based on current chart until the trend reverses?
I shorted early I guess at 0.0353
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IvanLabrie PRO hubavka
9 months ago
Well, we could see it starting today, after the week closes.
It's a possible scenario, which carries higher than 55% odds. Just a heads up for people holding ETH, you might want to be careful and look for an exit.
That's my goal with it. I see a lot of people are too confident in it, which makes me suspect this is the top or very close.
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hubavka IvanLabrie
9 months ago
Agreed on the confidence level. It's always the top when everyone is bullish :-)
Thanks Ivan
+1 Reply
IvanLabrie PRO hubavka
9 months ago
Welcome!
Have a nice week :)
Reply
altcoins_trading
8 months ago
it needs to go to 0.0335 again before going more down imo
Reply
herkuljee
8 months ago
Ivan, are you still short?
+1 Reply
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