I'm flat and monitoring the action in ETHBTC. I think we need to get some kind of sentiment reset to be able to buy it again. In general, I don't advocate shorts in cryptocurrencies, it is a lot more productive to trade the long side only. There are some fundamental risks at play, which would be interesting to see Vitalik Buterin and friends iron out succesfully. For now, I remain skeptical, and the market's exhuberance doesn't do much to calm my anxiety. I will let it form a new buy signal and follow the developments closely to buy back when viable.
Best of luck,
Ivan Labrie.
Bình luận
⋅
As a nice fundamental backdrop for the sideways story, we have the Status ICO that failed today, the released ETH might create sell pressure in the market for a good while.
Bình luận
⋅
I hope my followers took action and stood aside from ETH before the massacre these past 2 days. GDAX was extremely brutal for longs, not sure if people got margin called though. I would assume so.
Bình luận
⋅
Bình luận
⋅
Possibly bottoming soon, or even here:
Bình luận
⋅
Right on time...
Bình luận
⋅
In case anyone missed this or doesn't understand what just happened and what my chart here showed. I predicted the time duration of the correction, and the bottom happened exactly during the 3 day bar I had estimated it would.
Bình luận
⋅
Clearly, trend is now resuming...we can hold a spot position in ETH safely, or use margin longs to ride the trend.
We have a half position active, looking to add when viable.
In any case I fully concur about the required reset of sentiment. There's been so much enthusing in the media It's hard to imagine the headline that could move the price up now!
neverfollowr
⋅
Hey Ivan, you believer after aug 1.. this the bottom for ETH?
neverfollowr
⋅
@IvanLabrie thank you. all of your charts has been great and awesome timing... I was thinking after a 15% up move there would be a pull back. Also with BTC being frozen in exchanges a bit of money for be coming in ETH's way. thanks for the explanation.
IvanLabrie
⋅
@neverfollowr, yes, ETH looks great now. Very strong. Thanks.
red2000
⋅
you think eth is going still more on the downtrend? if it pass the 0.1807, next stops would be 0.0971 or 0.084
IvanLabrie
⋅
@red2000, possibly...best bet is to be out of ETH for the duration of this move, then wait for a buy signal to jump in...it would need an improvement of fundamentals to trigger a rally, or at least a sentiment reset. Too many bulls in ETH for a while.
red2000
⋅
@IvanLabrie, if i would be such a good charter like you maybe i would. i bought the from the beginnig and hold them. it seemed something valuable over time and it did confirm. right now they got some issues..maybe ETC will get stronger. how about LTC? i think there is more potential up.
IvanLabrie
⋅
@red2000, I favor DASH, XMR, XRP, LTC, BTC over ETH or ETC now.
blackswan
⋅
Guess whose song?
"Are we crazy?
Living our lives through a lens
Trapped in our white picket fence
Like ornaments
So comfortable, we're living in a bubble, bubble
So comfortable, we cannot see the trouble, trouble"
IvanLabrie
⋅
@blackswan, hmm, no, doesn't ring a bell. People always think trends are bubbles though. Although this could be close to forming a longer term top either soon, or by the end of 2017.
In any case I fully concur about the required reset of sentiment. There's been so much enthusing in the media It's hard to imagine the headline that could move the price up now!