The 'Range Movement' indicator is confirming the monthly breakout in ETHEUR, showing new all time highs in it, together with price. So far, all timeframes' signals have been coherent and bullish for ETHEUR, and every consolidation has led to higher prices after breaking out, since I called the bottom in this instrument recently.
Let's keep an eye on it, any kind of correction, sideways pattern, oversold dips, or other setups will give profitable short term and intermediate term bullish trades. Stay ready, and keep some cash at hand to add to longs, or just trade it with margin, but don't go overboard with size. We might slow down for a while here, or a tad higher, since ETHXBT implies we need to wait until May or even June to get more rapid upside in Ethereum. The fiat chart remains bullish in all timeframes, and indicates we might have little to worry about, holding longs, aiming to hit the long term targets (34-49-270 eur).
Bitcoin's recent negative fundamental events might be helping it strengthten relative to it, and in fiat terms as well, since more and more people will opt for investing in it, considering how it fares against Bitcoin's fundamental situation and risks (PBOC regulations, blocksize debate and confllicting opinions between miners and some big investors among others).
Good luck,
Ivan Labrie.
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2 more weeks left after this one ends, then bullish momentum might slow down ETHEUR We need to see close to 24 hit.
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The range expansion today confirms the strength of the breakout further. Hold your longs, be patient.
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9 day uptrend target hit in 2 days...probably going to a target 3 times as large within 6 days. This could see us hit the monthly target too fast...Maybe hitting 35.76.
If we do go that fast, things get 'bubbly' and we could see a correction or consolidation form until ETH is ready to move up steadily again. Let's wait and see.
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Yesterday was the highest volume day, ever...
Rermarkable and a nice confirmation of the breakout here. Hodl!
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Holding up here is fine, looks like the trend is in good shape.
We hit the first monthly target, conservative traders should rebalance the allocation to 50% of fiat value in both BTC and ETH. As is, ETH has more llike 70% or so. Depending on where you bought.
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We might see a sideways consolidation or some type of correction next...don't buy now, buy oversold dips, and average in during a week to a month if you're not in. The trend can continue higher after this pause.
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Consolidation forming, I'm aiming to reload on dips to support ideally, or after the consolidation is over.
@IvanLabrie Great analysis! So, what next now? 36 EUR is done.
IvanLabrie
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@NikitaPaushkin, hi, thanks. The trend has a lot of time to continue until February 2018, as long as we don't fall back to the starting point at $10.
Since we hit the target #1 so fast, we could see some pullback or sideways consolidation. I'm holding, if conservative, you might want to sell some ETH to be at 50% of fiat value in it, and 50% in BTC.
pirszh
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@IvanLabrie, Don't you think, that we must hit ATH now, before we can see a pullback?
IvanLabrie
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@NikitaPaushkin, we did break all time highs in ETH vs BTC and fiat.
I'd like a pullback to take some more short term margin longs. I've taken 3 or 4 already, with great results, whilst not selling my spot holdings, which reside in my wallet off exchange. I'm holding those until the end of the year.
JeroenHouttuin
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@IvanLabrie, we didn't break the ETHBTC ATH yet at Poloniex. I sold half my position today, hoping I don't miss another run tomorrow...
The one that matters the most is this one, and it was broken to the upside.
pirszh
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@IvanLabrie, So, you think, that if BTC will down to 880-940, ETH will, at least, stay at current level? I don't think so. I think ETHBTC ATH is important level too.
IvanLabrie
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@NikitaPaushkin, so, as I said, BTC fell to 880-940 and ETH didn't fall.
JeroenHouttuin
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@IvanLabrie, true, but it doesn't go back as far, so the word ATH is a bit relative then :)
Yes, I still have galf my stash in ETH, so I woke up smiling out loud....
IvanLabrie
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@JeroenHouttuin, what I mean is, the high that was most critical to break, was the one of the day when the DAO hack occurred and was known by everyone.