Short

ETH possible behaviour

Updated

Ethereum playing at key levels, under 0.01 btc for first time in +10 months.

Green dot lines: remaining support levels
Red dot lines: resistances level
Grey/black lines: fractals of past behaviour of price in similar situations.
Green straight line: All Time High
Red straight line: All Time Low

MACD looking bearish again, it failed (though it tried it) to show a bull signal.
RSI about to reach oversold zone, could be a reversal signal, but we know FOMO in crypto triggers when we are at oversold/bought areas.
EMA and MA looking bearish, EMA since last 5-6 weeks, and MA for 1 week. MA is mostly bearish since July, though it tried to reverse it 2 weeks ago and finally failed 1 week ago.

Current trade:
Target 1: 0.009 -- 40% of initial position
Target 2: 0.0067 -- 60% of initial position
base price 0.0102

Mostly waiting for the perfect set-up. This is a small trade if i compare it with my xmr trade and my btc trade. Will go bigger into this trade if eth, against my expectations, goes up enough.
If eth bounces back up to 0.0156-0.0158 area i'm opening a relatively big short.
If 0.0235 is reached, i'm all-in short.

Note

BTW:
green rectangles are possible long targets + short entry points.
red rectangles are possible short targets + long entry points.

Trade active

Target one reached.
Target two following this week.

Note

If 0.01 is surpassed again probably re-shorting again.
As you may already know, a REP whale was hacked and 100k REP and his ETH holding were dumped. This pushed the price as low as 0.0076, i wish i would have been online by then !!
Now an "epic short squeeze" to take money from bottom shorters is being orchested.
Re-shorting at 0.0103 the very same amount i closed at 0.009 earlier today.
Still going small on this trade, BTC "doubting" could boost an ETH reversal anytime soon.

Trade active

My short was refilled at 0.0103.
Looking forward to reach 0.009 again pretty soon.

Trade active

It seems we could be back on track

Note

twitter.com/alistairmilne/status/807199990829432833
bloodbath potentially incoming?

Trade active

Late longers squeeze probably incoming.
Key level 0.0077, where late full margin longers get liquidated plus local low (so potential stop-loss of tones of traders.

Note

Added some bits to my short to make it a bit bigger for XMas.
SL at break even including fees, just in case manipulators dont rest in holidays.

Time to short before next BTC surge! Nobody wants Eth for Xmass

Trade active

Closed once again 40% of position at 0.009.
This trade is pretty profitable so far.

Note

BTC pressure about to close this trade. Just a bit more, be ready, might arrive tonight

Note

Reduced my exposure in this short. Two weeks ago i added some bits to my short at ~0.01 and now i close them at 0.0082.
I also close 20% of my initial position at 0.0082. So only 40% of initial position left.

Current status:
40% from 0.0103 to 0.009 X2
20% from 0.0103 to 0.0082
15% from ~0.01 to 0.0082 **(this is the "bits" i talked about in my comment 16 days ago

Profit in % over initial position
5% X2 + 4% + 3% = 17% realized profit + 8% of unrealized profit

Fully closing now my position would mean a 25% net profit, not including any possible margin used.

Note

Added Stop-Loss at 0.009 just in case, as btc doubting could boost an eth reversal that refused to break $7 resistance several times.
If stop-loss reached my total net profit for this trade would be 22% without any margin.

Trade closed: stop reached

Trade closed.
Total profit before margin 22%.
Not bad :/

Note

Moreover, ETH could be heading to a major long-term bull trend
Check this chart of ETH against EUR in Kraken

bagofXMR

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