We reached 300$ support this morning. I dont expect it to reach 250$ support. But be ready for it when you adjust Stop Loss. Put SL below 240$ and target for 500$ longterm. I think it probably the best entry Point for ETHUSD. looking at the Pitchfork, I think we should reach 400$ at around 27th of June, maybe later or sooner, it depends if there will be another good or bad news. But the longterm trend remains.
@BTCSwisswatcher, No offense but coinbase wasn't the reason it dropped. I stayed up the entire night waiting for ETH to hit $250, been up for 32 hrs now. I patiently waited as ETH fell from around $380 to $253. I attempted a purchase on Coinbase which said my price was $258 with fees, hit enter and then watched the screen freeze and ultimately coinbase crashed. So I watched as ETH was systematically dropping with no end in sight. As soon as coinbase crashed ETH shot up from $253 to $305 in about an hour. I hate to say it because I always think people are full of crap when they say coinbase purposely "crashed" to stop the hemorrhaging, but after witnessing it first hand, I have to admit it was the very first thought that crossed my mind. They blame it on volume of transactions but I've seen higher volume than that before with zero problems. There were actually higher volumes of buying once they came back online. So the Coinbase "crash" was actually responsible for the reversal back up and stopped ETH from dropping passed $250.
alejandroscotti
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@Crypteaux, Switch to Gemini.com, I was trading the whole week without any issues. Follow ScottCarney, BTC & ETH will continue downtrend until probably Saturday noon
alejandroscotti
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@scottialex, sorry, BTC downtrend until Saturday Noon, ETH is my guess will follow BTC
Crypteaux
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@scottialex, Awesome thanks for the info!!
BTCSwisswatcher
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@Crypteaux, the attack was every time the same DDOSed Coinbase until the tradingvolume was low, the website being down, made it easy to make the price drop. as soon as Coinbase was online again, the Bulls put in their orders. It'ts not the big volume that causing the price to drop, but low liquidity.
Crypteaux
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@BTCSwisswatcher, You may be correct about volumes and DDos but you are mistaken about the website being down and causing ETH to drop, that is not what happened. I was able to successfully use Coinbase from 6-7PM Wednesday until about 7AM Thursday morning exactly when ETH hit $253. I was logged into coinbase and it was functioning fine. It was very obvious when Coinbase was down because I was instantly unable to access my coinbase account just as I was hitting the buy tab to purchase ETH at $258. Zero problems before this. In fact, I was on conference call with 3-4 other people who were logged into Coinbase and we were all discussing and sharing thoughts in anticipation of ETH hitting the $250 mark and if Coinbase hadn't crashed it would have probably gone well passed $250. So it wasn't only myself that was successfully using coinbase up until that point, I'm sure there are countless others that could validate that claim. Just take a look at the Twitter links below and you will see how many people had this exact experience.
Here is the link to the Coinbase Twitter feed where they make 2 announcements that they were having problems, oh and notice the time of the announcements, just as ETH was hitting $253 and there wasn't a single announcement about any issues before that. The most recent announcement before that one was on June 12th which was Monday, 2 days earlier.
And here is a link to Coinbase twitter page so you can see the timeline of all of their announcements
twitter.com/CoinbaseSupport
Also here is a link to cryptowatch Coinbase ETH/USD so you can see the timeline of ETH/USD and compare it to the times Coinbase announced they were having problems. cryptowat.ch/coinbase/ethusd/30m
Whether or not it was an actual attack or done purposely is totally irrelevant. The point is that you can clearly see that ETH started dropping at approximately 7-8PM Wednesday June 14th and continued to drop for around 12 hours before abruptly coming to a halt at 7-8AM Thursday June 15th, ironically or coincidentally at the same time Coinbase website shut down and they made announcements on Twitter. So ETH was dropping for an entire 12 hours before coinbase made any announcements. The timeline of events is clear as day.
financemagnates.com/cryptocurrency/trading/bitcoin-price-falls-sharply-coinbase-suffers-another-major-outage/