As you know, we have been buying ETH in the past few days, and now we have good evidence that a bottom is in place. Longer term charts are showing that we need to hit 0.007297 to confirm bearish momentum. The gist is this needs to happen during December and January, which I don't think will happen at all. Good luck if holdings,
Cheers.
Ivan Labrie
Kommentar
⋅
Kommentar
⋅
Still under the channel top, but it looks like price is coiling to break out.
Kommentar
⋅
If it doesn't hold above this level, and eventually break the channel resistance, we will have to exit. Watching it and holding for now, I bought between 6.5 and 8 euros.
Kommentar
⋅
There's some buying pressure here, but we still face resistance from the channel, keep an eye on it to add to ETH longs on the breakout.
Trade wurde manuell geschlossen
⋅
We could never break the resistance, so the downtrend continues.
Hello Ivan, I´m following ETH/XBT ETH/EUR the whole year. i believe the bear cycle is not over yet. The latest low was due to an ETH whale hacked and his whole stash beeing dumped which put ETH below February 2016 support. This put the downtrend into more momentum which needs to correct now. Nevertheless the bottom i predict for ETH is arround 0.0055-0.0065 which is the last support. Also you need to consider a BTC rise as negative for ETH.
Time will show if this is a reversal, but currently i stay bearish on ETH as it turned into a mess since the DAO hack
IvanLabrie
⋅
@Pato99, interesting remarks. We need to watch how far the rally goes to trail stops and maybe even flip short. Logic tells me it can return to the downtrend mode, at 0.02.
Pato99
⋅
@IvanLabrie, Good morning Ivan. I hope you are following this spectacle and got out of your positions. Bearish momentum dramatically increased. We got a 3500 BTC sell wall at 0.0083-0.0085. We are heading to my target pretty fast.
IvanLabrie
⋅
@Pato99, I bought with fiat so I made some money on it actually.
Also, you missed my update 8 hours ago: "Trade closed manually: We could never break the resistance, so the downtrend continues."
Pato99
⋅
@IvanLabrie, yeah i didn´t noticed. I´m happy you could close in green. EUR/BTC doesn´t look too bad actually. I definetively will buy some entrys in 0.0055-0.0065 area, but this is mostly depending on what bitcoin is doing there
IvanLabrie
⋅
@Pato99, there is an established downtrend in ETH, so it needs some sort of catalyst to turn around...the linear regression channel resistance warned us, as you can see, since we never broke out of it.
I still don't know what can make ETH rally here, but it'll have to be some major fundamental overhaul.
Pato99
⋅
@IvanLabrie, you remember the DAO? We got a second project called ICONOMI which is pretty similar to the DAO and it is designed as a smart contract for Ethereum. I allready invested a small Portion into this project.
You should really read about it.
Ethers strenght is ist smart contracts. This is the real value provided by ETH. Interest is very high in this new Project.
If Bitcoin retraces from its Rally it will be the best time to invest into ETH and ICO
IvanLabrie
⋅
@Pato99, I've read a bit about it, but not too involved. It is a type of trade I'm not too interested in, because I can't really predict how it will turn out with no reference point. I'd much rather just trade BTC for now, until ETH gains traction.
It's more of a lotto ticket, that's how I see it.
Pato99
⋅
@IvanLabrie, Yes I understand your reasons. I mainly trade crypto and i am ready to take the risk. Ethereum is still the second biggest crypto currency and BTC had extreme movements in the past too. It is how crypto behaves, but i am sure you will get on the trade early enough to see the second rise.
If it doesnt happen it´s ok. I´m ready to risk 5% for it. with a hard stop @ 0.004
IvanLabrie
⋅
@Pato99, low liquidity or no chart history makes it quite hard to make any actionable prediction, so, I won't bother with alts in general, or ICO/IPOs, not my thing. Look at the BTC trend, being able to define risk is critical to trade profitably.
Time will show if this is a reversal, but currently i stay bearish on ETH as it turned into a mess since the DAO hack