Risk Vs. Reward just isn't there anymore. This is not a fundamental analysis of the projects\events coming up (specifically OKCOIN and Huobi listing ETH in the next few days), this is purely just a TA price chart and my "pulse" on the market. I'd be scaling out. I don't own any nor will I be shorting it, but these are just my overview thoughts.
For those who can, I think the time to short isn't far, especially with BTC's weakness here. Averaging up counter-trend is pretty damn risky though. Be careful if you do choose this route.
I can see a return to the $70's once this is all over. There and the $40's is a nice value entry for a position. These may take weeks or months to hit.
Komen
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Support coming up at $120. Unlikely this dump will go further, $40 won't be hit, $70 may take a year of bear market\return to mean before being hit.
Keep an eye on the market. This is gonna be a fun week.
Komen
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$120 real close now, capitulation is... either ongoing or about to happen. Still unclear, still freefalling. Bitcoin I think will judge whether we stop at $120 or go to $80's. Either way, anything down there is a phenomenal buy in the short\medium term.
Komen
JoE
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Looks like an ascending triangle pattern on the weekly... still expecting it to go down? Pls update
Enhancement321
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I appreciate your analysis. What are your thoughts on BTC and Segwit2x?
kali21
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it may see those levels one day but i dont think anytime soon.. i think vitalik has a few bullets left in his gun and waiting for the right time to shoot btc.. raiden + next eea announcement + btc drama + mainstream media coverages etc. etc. it s gonna be interesting
_TM3K_
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nice
lowstrife
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Oh and one thing, because this chart is a bit of a hack to get the all-time ETHUSD price, the candle wicks aren't exactly accurate. The actual highs and lows typically aren't at those extremes, it's how the math to multiply the two symbols to get a ETHUSD price works out. Especially if both base pairs (BTCUSD ETHBTC) are very volatile inside that daily candle.
ampatrick4
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@lowstrife, Thinking that it could go a tad higher once OKcoin and Huobi open up. Then dip again. Its gunna be a interesting pump
ampatrick4
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@lowstrife, I think once people realize that ETH is hitting its top, they will sell for BTC knowing that its still at a dip.
lowstrife
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@ampatrick4, Retail is still in full euphoria\moon mode. It will turn in a bit.
@lowstrife, I agree with you now, on the top. I have realized that not many people will trade ether on okcoin and huobi as I thought. I dont see ether going much higher or any higher at this point. Could be the top
metamorphosis11
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@lowstrife, Going by that indicator, bitcoin has seen a more significant downtick in activity than ethereum.