"The false bottom" Ethereum

POLONIEX:ETHBTC   Ethereum / Bitcoin
4195 10
The people who bought at 80% of bitcoins market cap who do not understand what a smart contract is have not sold yet. Needs moar pain : )
Kommentar: Still expecting that last big move up before going down...but if it does break .04 (don't think it will) *then we're going straight down.
Kommentar: Upside target (than we'll see how the market reacts after, either we put in a higher low, or the new downtrend begins):
Kommentar: I think that’s it guys, seems the downtrend will now continue. We kissed the yellow descending trendline and sellers stepped in. Now it looks like we have two up move of fairly similar length for a nice corrective (*not impulsive) X wave:
Kommentar: Looks like it's time for the bounce give or take, should probably make it back up to the yellow trendline:
Kommentar: Nice rally (as expected), think its coming to an end soon, looking for something like this:
Kommentar: Went a bit higher, that's okay. RSK dropping tomorrow on bitcoin (and presumably litecoin), *if we break the highs then OKAY i'll get bullish on ETH.
Kommentar: Yup, price had trouble sustaining a break of the highs. Trendline broke, RSI trendline broke, StochRSI crossed down. Slight change in the count, since i'm having trouble counting 5 waves up going to call this "B"
Kommentar: Sorry guys bad call, looks like I was early, but doesn't mean i'm wrong. Still expecting a big move down here. Be careful though, more upside to the 2.618 still in the cards if clear the 1.618.
Kommentar: If we break the parabolic trendline decent chance the great ETH bull trap is complete:
Kommentar: broken
Kommentar: Price making new ATH's guess I was wrong : ) At least for now. Price should make it up to the 2.618 extension.
never has a break from parabolic trend been deemed this dangerous (>.<)
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@Rawr, ETH is the KING of all coins. Its moving higher. I see $3k by February.
I've heard other people say Ethereum is toast for same reasons. Good charts!
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wow, you nailed it. but it seems LTC has the same fate...
@mvb1, thanks, ya not looking good at the moment but I think there's still hope for ltc. We'll see.
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ICO's are primed to dump hard at the whiff of serious regulation
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its time for a short term long right now isnt it?
btc_joe tenzor7
@tenzor7, Yes I don't think it is going straight far following the forecast...

Of course it could just explode as well, but I don't think so : )
Ballsey call. But what about all the ICOs? Won't this affect them?
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