Red is green and green is red. I'll update once get confirmation, as we still have a chance for pull back. But i've already added long position.
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Looks like market is recovering, bad news didn't effect the market. I'm glad that already added position at the dip at my own risk and did 3 trades to accumulate more but I might short depending on the market situation.
Two reason to Hold at this level:
1- Future contract expired but didn't effect the price.
2- Vitalik is already under so much pressure from other Smart contract like NEO. This is the best time to come up with a solution for issues like Tx high fees.
Ask yourself ? So many company tried to beat Facebook and Google ? but did they actually achieved ?
Google and Facebook are banned in China and for that same reason "I'm holding NEO and ETP"
NEO transaction are free plus you get gas for holding it.Personally believe that NEO would be more profitable.
Ether and NEO both have same price correlation.
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Sell high buy lower again !!! I'm shorting Ether till the trend line.
SEC might crack down on ICO's, which can directly effect Ether price and interestingly the chart is correlating with it.
I will post a public chart but anyone can PM for private chart.
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Trend analysis Showing good sign of reversal after almost touched the trend line + psychological support. Hopefully, two weeks of consolidation above $850 level will bring more buyers to market for next bull run.
Long: We already touched the possible low of $550 and high of $1420 which set our target for $2600 & $5000.
Short: We might see resistance around $970 level which is the key level to watch for market movement.
Sentiments:
But as the market have suffered blood bath, i'm hoping for some positive news above $900 level to give some boost and consolidation can happen after that.
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Long: Ether after reaching 100 million supply would be deflationary and before that, it is poised to be inflationary up to 10%.
Consolidation:
$980 high and $560 low, make our consolidation area in between $580-$970. The bigger picture will show higher lows and lower highs.
Short:
Ether can drop up to $600 after that start crawling above the long-term trendline but there are few cases where it could drop up to $454 which is going to be a slow killer.
Sentiments:
Obviously, the market is not going to move without BTC breaking the channel and hold above the bull level.
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Accumulation phase: The start of swing trading
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If BTC keeps moving higher Ether is more likely to hold the USD value but definitely short in BTC.
Feeling like we have time to accumulate the ether...
AnaK
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Is this going to increase from here on? I missed to enter the market at its lowest.
fk91
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@AnaK, Wish i had a crystal ball to tell you but all we can do is wait for the confirmation as long as we know the point where it gonna up even the price a bit high. For example target of $2400, buy under $1000 or $1100 is reasonable but once we get the confirmation. Stay safe and don't use margin !!!