MarcelV
Short

Bulls giving up hope on ETH

KRAKEN:ETHXBT   ETHXBT
8 months ago
  • Cloud is gone
  • Trendline is gone
  • Bullish attempts were extremely weak, only moving price when order book was at its thinnest (desperate). Confirmation for this is seen in RSI .
  • Oversold KDJ during 24th and 26th gave bulls a chance between 26th and 27th... now it's bears turn again.

Combined with the massive sell orders we've been seeing on Polo, the bear is strong with eth.
Where to short? Anywhere between 2600-2650, lower is safer to not miss out, higher is better RR. I distributed into several sell orders.

Plus, you have to take into account that BTC is bullish ... and the sentiment in chat seems rather bullish . Today's Published idea by LastBattle appeals to me:
Breakout soon
.
Plus, whales are entering XMR and getting ready to enter Lisk.

Btw... while writing this idea, price dropped from 2600 to 2580. I still suggest trying to short higher. We are having some chop attempts and the amount of buy orders till 2500 is heavy, so small bounces are to be expected.

Happy trading!
8 months ago
Trade closed: target reached: Quick update for those that do not read Bitcoin chatroom:
I closed my trade at 2400 with nice profits, then scalped long 2352 to 2440.

For me, this trade idea is finished.

Stay tuned for next trading idea!
rexlomax
8 months ago
The man in the wheelchair will bring the pain!
+1 Reply
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