Market totally Exhausted. big chance of a pullback here.
I closed my long today, i been longing ETH for the last 3 months during the 2017 reversal.
i think we will see our first major pullback here to allow some fresh money & take out some fomo longs.
Open - 2430
target one - 2050
target two - 1850
Stop - 2700
As always with all altcoin trading we...
Buy - hold - wait- profit. long term spot position.
Buy spot to have a stress free trade,
for Fundamentals & more in depth analysis check the charted posted 2 weeks ago at the very bottom very bullish reversal signals were evident.
chart analysis - Trend - Bear
26 out 28 three day Candles RED - 3 months non stop price is going down.
A recent rejection at Resistance which has happened multiple time consistently over last few months in a few defined descending channel
Overall Market sentiment
Unnecessary hardfork splitting chain, multiple bugs, no apps except the notoriously failed DAO...
The four most dangerous words in investing are " This time it's different. " ;-)
Is it different this time, lets assess the chart & fundamentals.
Candles Green > Weekly - 3 x 3 day - 8 of 9 daily
Bottom Rounding structure Support - 0.001 level tested 4 times over 2 weeks , support held, first time the down trend has gone into a...
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy!
Ethereum Classic is giving off many signals that trend is shortly reversing.
The pattern is clear to see, there is a triple bottom forming, the price has been fiercely defended at the current levels, on the...
Bitcoin has been giving bullish signals, i have had many different indicatiors giving me confidence in this long position.
i have actually been bullish since closing my short at 593-595 range, just wanted confirmation on different time frames.
Taking fundimintals into consideration makes this position solid. the ongoing global economic slowdown, continuing US...
Market totally exhausted. needs to cool down.
Quick short ... 4-8 hours to achieve target.
open - 2290
target 1 - 2200
target 2 - 2160
stop - 3335
as alway with altcoins we will be reviewing the position in trade, i will be looking to increase the position if momentum down increase in volume & longs start to get squeezed at 2240.
This is a fairly risky...
The move up looks to have been rejected which really surprised me this time round as the volume was very good but it seems to have been rejected over the last few hours. i did have a small long which is closed already turning it into an instant short once i realized bullish sentiment is rejected it with bears still in control.
Opened short - 2075
after a fairly long consilidation period i think we have bottomed out here at 2650 which was the exact same spot that we bounced on the main down trend about two weeks ago. on the daily chart it does suggest strong support at 2600-2700 & a double bottom.
i opened a long position at 27200 with a stop at 25200 , im expecting a slow grind up with a lot of chop but...
Sometimes what looks like the worst situation could actually be a very good opportunity .
The easy option for BFX would have been to file for bankruptcy which would have meant a 90-95% haircut for all where you would get those peanuts in a few years once creditors were paid & coins were auctioned,
When the hack happened i had given myself the odds of 5000/1...
The first ETC trade was an excellent opportunity where we got the very bottom, this trade is essentially the same where we are hopefully catching the bottom here.
Due to less volume all round we cant expect explosive uptrend like the last one, Due to finex breach volume is down across all exchanges in general apart from china which is speculative due 0 fees...
We had wonderful success on our last short, it was similar to current levels, its hard to know how low Greedy eth was going to go, it was in free fall & ironically the Finex Security Breach saved it with most shorts Fomo Closing to get out people cashing out their BTC into $ or Hedging with ETH.
fundimintals have not changed, the confidence in the entire project...
As most Regulars in CryptoCurrencies room are aware i been Supporting the ETC chain long before it was listed on any Exchanges constantly on the chat since the fork.
We are now ready to move up again, there was great distribution the first move up but more importantly support has established at 240000-250000 level.
I have had orders at 235000-240000 filled,...
Having gone long 5-6 hours after the hardfork based on the fundamentals of Fork being a success but more importantly the fact that DAO did not dump upon pulling out over 40 million dollars of refunds. it was a good Bullish single.
Closed that long at 2050, maybe a little too early but based on the Email received from kraken of a possible hack i thought at that...
The Big move up today was very Fast, the current level has been Resistance before as the red arrows down show.
i have opened a short with a slightly bigger stop..
if the Green upper line breaks! expect a longer breakout target of 730!
if we break down as i hope with my short target to take profits below 655.