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ETHEUR

Fear & overreaction? Off to Goblin Town!Hi all! We are in crazy times. The unbreakable trendline has been breached and many people are claiming that new uptrend is starting for ETH. What a wonderful time to open a short at a crazy price ^^ Market participants have succumbed to fear & overreacted (especially shorters). The DAO spam has probably blinded many, but the real reason price got this high was due to short squeeze & margin liquidations + chart painting to finish Bull Flag. FA: Slock.it The DAO has cooled . First it was 100k / hour, now it's ~ 2-10k / hour, 5k avg. Too much anticipation of buy pressure on ETH due to The DAO -> it will not sustain, forget figures such as 5 million ether. It will be max 2 million ether. BTC Relay allows for currency-agnostic usage of Ethereum blockchain & DAPPs (Bitcoin, Doge, ...). ETH token will lose it's main intrinsic value (being the requirement to enter DAPPs world). Vitalik himself has numerous times stated that Ethereum is the future, yet Ether is not a storage of value, just "gas". Digix DAO will start selling ETH. We just don't know when, yet. The DAO will start selling ETH too, and from a pump will become our fuel to goblin town. We just don't know when, yet. Bitcoin community has yet again been a victim to chaos & FUDs today. Will the real Nakamoto please stand up? We all know the story... but what's important, there hasn't been a strong dump. And there usually is. Why not today? Given the fact that Gavin Andresen had his committer rights revoked , etc... we can only state that the underlying market structure of Bitcoin is strong and thus Bitcoin is a buy. -> BTC price will rise soon. Expect negative impact on eth/xbt price. I believe that BTC Relay will bring Ether token price down a lot over the coming weeks. It allows using Ethereum without the need to own Ether. Find a spot to short eth you are comfortable with. Some more confirmations would be wanted from TA point of view before entering a position, unless you are seasoned trader. For explanation, see chart. A bounce is expected once hitting the red trendline. Once its broken, it is OTE short zone. Shorting anything above it is less certain, but comes with more potential profit. For EW fanatics, I like this jesse charts .. Happy trading! :-)
Short
by MarcelV
40
Triangular formationHi all, After our successful long from ~ 1630 to ~ 1730, we are now more comfortable in declaring the current situation as a Triangular formation. See all explanation in chart :-) Do not go all in, I don't have exact targets nor stop-loss for this trade yet. It is possible it could fake out to the top due to thin order books. So, stay relaxed... Keep in mind, we are also in long-term downtrend, as per Behemoth analysis. Happy trading! :) P.S. If you wanna invite me for a coffee over the internetz, blockchain.info
Short
by MarcelV
9
Great entrance for ETH ShortHi All, After our successful long position from 1540 to 1750, we are now going to short. Because we are still in massive Behemoth down-trend, we will have two targets for our short. One medium-term, one long-term. Entry: 1730-1760 1st tgt: 1520 2nd tgt: 1124 Stop-loss: 1850 -> I believe the upside is limited from here. Anyways, 1850 would break major trend-line & invalidate our trade. TA: Strong Bearish Divergence. Double rejection of 70% RSI. Intermediate trend-line hit. My opinion is BTC will continue its uptrend after today's massive shake-out (which every1 waited for to happen). FA: DAO launch was false rumour: twitter.com For more fundamental and technical analysis, read Behemoth short, which we are biasing all our subsequent trade ideas on! Happy trading! :)
Short
by MarcelV
31
ETH intermediate bottom has been formed!Hi all Followers, Today we are going to take a long position with a very nice R/R. Entry :1540 Target: 1900 Stop-loss: 1500. There have not been many opportunities lately in ETH from TA point of view, other than the long-term short I posted in Behemoth analysis, up until now. TA: A strong bottom at 1500 has been found and established, turning previous massive resistance from February into our rock-solid launchpad. There has been extraordinarily high volume on the sells and yet Bullish Divergence has been created. Those are signals you want to see before a reversal, and they are here in their purest form. During today's rise of bitcoin from CNY 3000 to CNY 3027 (new highs!), ETH held very strong and has not dropped. This signals a strong underlying market structure. Red trendline has not been visited in a long time and we have ventured far away from clouds as well. Time to visit the old friends. The rest of the TA is explained in the chart. FA: There have been numerous news and rumours that emerged in the past 24 hours, all of which are very positive. The following are big ones: blog.kraken.com blog.slock.it www.reddit.com Happy trading! :)
Long
by MarcelV
14
Minimal-risk short opportunityHi guys, A quick chart! Our Behemoth short is still valid. Looking at the recent development, I feel confident enough to pronounce this as a good short opportunity for those who are not short yet. I myself have added a considerable amount of shorts at 2250. The trend line is holding. It's breakout is our hard stop-loss. (In Behemoth I marked it at 2250 price level, but we rose too fast, the trend line is still at 2300 .) Target is 1124 . Ok, now why would you want to short this? From 1H TA perspective: First, we have the strong trend-line which has never been broken before. Second, there is a great Bearish DIV on RSI. Third, KDJ is showing overbought and turning red. Fourth, the infamous H&S pattern seems to be reaching its completion -> the pattern sux and so I think it won't complete fully. Happy trading! P.S. For more analysis on ETH, read-up on the latest long-term chart:
Short
by MarcelV
9
Behemoth short - sell the news #2Hi all, We took short today from 2006, which went fine. Second thoughts were dispersed when 3-day triangle went south. Following a nice 25% recovery from 1650, psychological level 2000 failed to hold. Scheduled sell-off is going to take control from here. Expect strong bear trend continuation, with acceleration towards 1124 target. Technical analysis is explained in the chart: Kumo, AO, RSI, DMI = bear! Gann, Fibo reveal the target. Fundamental analysis: - btc is rising - 33K gas created every day and in pos it will be 165K - money is moving to older exchanges like BTCe right now. Expect pump on older alts like LTC, PPC, NMC - whale capital is leaving polo - still unresolved technical / inflational issues - sell the news article - ETH inflation rate per year in POS 100%. So 180 million tokens by end of 2017. When to short? If you followed today's idea, you shorted at 2006. If not, now is a good time to short from 1935. Triangle was broken and as such, downtrend continuation is confirmed = less risk. Soft stop-loss: 2000 Hard stop-loss: 2250 (trendline break) -> would signal a bull market. Until then, this is bear market. Happy trading!
Short
by MarcelV
13
Buy the rumour, sell the newsETH bounced from last significant FIB Speed trendline and is now touching the top of the triangle. A few minutes ago, Coinbase released the news which was leaked two days ago from Google cache. Visual Studio supports Ethereum. ,,Buy the rumour, sell the news." Trader Bible, pp. 1 I am going short here. It is a very risky trade with not that high chance for success, but with very nice Risk/Reward. Entry: 2940 - 2990 1st tgt 2150 2nd tgt 1590 - 61.8% fib retracement Stop loss - around 3000, might be careful for stoploss hunt. For more insight on bearish bias, see previous analysis. Happy trading! www.coindesk.com
Short
by MarcelV
6
Styx calling names... GAS..."Gas, you are awaited." Styx It seems like eth is done. After a paid bullish article in NYTimes, eth cought its last bullish breath. - Trendline was broken, yet hammered on 4h. -> should have burst upwards, did not. - AO, ADX, RSI failed to confirm bull. KDJ signalling overbought. - Kumo proved to be resistance. - With no bullish news ahead of us, this is the OTE short zone. As can be seen on the following graph, whale capital is leaving Poloniex wallet aka moving to BTC: www.bitcoinrichlist.com ETH unfortunately has been facing some technical issues lately, e.g.: twitter.com Perfect trade is ahead of us. 1st target 2250, 2nd target 1850. Soft stop loss 2830. Hard stop loss 2950-3050. Time to sell this overpriced gas :) Happy trading!
Short
by MarcelV
1
Bulls giving up hope on ETH Cloud is gone Trendline is gone Bullish attempts were extremely weak, only moving price when order book was at its thinnest (desperate). Confirmation for this is seen in RSI. Oversold KDJ during 24th and 26th gave bulls a chance between 26th and 27th... now it's bears turn again. Combined with the massive sell orders we've been seeing on Polo, the bear is strong with eth. Where to short? Anywhere between 2600-2650, lower is safer to not miss out, higher is better RR. I distributed into several sell orders. Plus, you have to take into account that BTC is bullish... and the sentiment in chat seems rather bullish. Today's Published idea by LastBattle appeals to me: . Plus, whales are entering XMR and getting ready to enter Lisk. Btw... while writing this idea, price dropped from 2600 to 2580. I still suggest trying to short higher. We are having some chop attempts and the amount of buy orders till 2500 is heavy, so small bounces are to be expected. Happy trading!
Short
by MarcelV
1