Long

Long on ETP

By botje11

Updated

ETP has been hanging around 3.0 for many times and a long time. Now it finally seems to be breaking out!

Stop at 2.90

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If volume kicks in, expect at least 4 and probably for longer term to the high at 6

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Its breaking out now, with volume!!!

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So far, again, it has been a false outbreak. I have been watching this coin for quite a while now, and since it has been on around 3.00 level i have been watching to buy it. I have had this feeling for several weeks now, that the price of this coin is being controlled. I see patterns in the order book at Bitfinex, i can not make up what they are trying to do, my guess is that they want to bore people out of this one, or they want to get the sell volume to go down to get it up much easier. You can see these patterns with more coins> Thats the biggest disadvantage of these coins, the volume on average is low, so it can be manipulated quite easily. Anyway, just as long as it stays above 3.10/2.90, we just have to be patient.

The same thing what (i think i have seen) happend with EOS also. That's what i suspect with ETP to happen to. Time will tell :)

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above 3.15 is also very bullish

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Lets see if this attempt is going to work, we need volume like the ones you see cirkeld with prices above 3,50. That should be confirmation that a new wave up is set. To normally the ATH around 6.0. Without volume this will drop just as easily back to 3.15

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And it happend again!! i have to congratulate the people who have done there job excellent again! :) It was missing volume as i have mentioned before and like i have said that it would drop back to 3.15 again. It did bounce off that resistence line you can see. Maybe if it gets above, it will get the strength to take out 3.50

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It will break this time. The other attempts were V shapes, went down hard and fast again. Now the buyers wont let them. Lets hope for an acceleration after the breakout :)

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And again it gets pushed down, funny thing is, i had filled in my sell order 5 days ago at 3.85. Guess what the high price today was, 3.845. Lots of respect for these guys, just making easy money with pushing it up controlled and than selling it high, to push it lower again, buying it back in small pieces just to repeat the sequence again! Ofcourse when volume enters they wont be able to play this game, otherwise it's quite easy.

When you watch the order book, you see they put in order between 1250 and 5000, just so people overbid them, to push the prices higher, When it's high enough for them they start selling when new people with enough volume start to bid. When they are done selling and wont to push prices down. You see the sell order book fills up with bigger orders, the buy order book also, but these buy order you just see them dissapear when selling starts to get close, because they cancel their buy orders, the buy order book gets empty and you see the price slowely getting lower. Just watch when you put in a sizeble order in the sell order book, immediately you see one getting in front of you. Almost forcing you to sell against the bid if you want to get rid of them. Therefore the price gets pushed down even faster.

I just wonder how long they can keep this up

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It's starting to look very good now. After the 3.85 break, next station will 4.10. My target will be 6 and i will probably ride it out untill there

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Even though i am up plus 25%, this coing is starting to irritate me :)
I think this time it will push through the 3.9, Look at the volume spike, this usually means some one wants to push it higher. Lets wait and see

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And it is still testing my patience, it dropped again to 3.65. Let see if it pushes trough the 3.9 this time. I have put my stop at 3.6 now, to ensure a nice profit. But my goal is much higher ofcourse

Trade closed manually

Kind of a lucky shot that i had put my stop at 3.6, now i still have 15% win on this trade instead of a big loss because if this selloff in the crypto world.

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Look at this sick shit, not once but even twice. Because of things like this i am very sceptical about crypto's. I know the market is not mature yet, but untill now their just toys for people with money to 'steal' money from hard working people who get lured in these market like it's free money all the time

botje11

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