This is how the Ethereum chart looks, plotted against the Euro using Kraken data. It has been the most reliable instrument to perform analysis on this pair, together with ETHBTC from the Poloniex feed. Currently, we are tracing a daily, weekly and monthly uptrend. Periodically, smaller timeframes might be in a consolidation or retracement phase, to then rejoin the big picture trend in the monthly. Right now, we can anticipate higher prices all month, courtesy of the daily and weekly signals depicted in yellow and turquoise. This weekend is loaded with fundamental events that can further boost this rally, so I think it is logical to see ETHEUR hit the daily and weekly top target zones in time or even earlier than expected.
After the time expires for these signals, we could commence a consolidation phase, which can take a myriad of shapes, and isn't predictable yet, other than on a time duration basis. Normally, the market will absorb supply from profit taking, which takes a proportional amount of time to the rally itself, so it is logical to observe what Tim West has noted in his 'Time at Mode' proprietary method. So far, this methodology has served me well, and I would be glad to share the benefits of it with people interested in trading these powerful trends. Tim is working on new material currently, you can pm me or him to learn more about it.
Now, on to the trading reccomendation aspect, if you're long, consider average volatility to determine your position sizing. During a trend, it is reccomended to gain exposure, and while consolidating, trimming it back down, or outright taking profits. Don't risk more than a 10% drawdown on a worst case scenario basis if trading long term, it will be hard to recover otherwise. Keep your coins safe in hardware wallets like the Trezor or Ledger nano, and make sure you do your due diligence when it comes to cybersecurity, and exposure to centralized exchange risk and margin trading.
All my ETH charts above...you can read the detailed breakdown on each chart since I predicted the exact bottom before this rally.
Komen
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ETHEUR update and signals We haven't gotten a warning of a correction yet, wait patiently.
Dagangan ditutup secara manual
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I feel we have a long term top in all coins, I will watch for reentry, but moving money out of crypto into equities and metals.
Dagangan ditutup secara manual
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We hit the top target with actual, real trades now, market instantly sold off. This is a good indication of a top. Also sentiment is beyond ridiculous already. I am flat, standing aside from ETH for a good while.
Komen
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Interesting, ETHEUR hit my initial long term rally target I would reccomend to sell and wait for the market to correct if still in.
I found you by accident, and have been by now looking at your idea-development. So far so good. I agree that the markets went crazy, and the top should come. A couple of questions:
-I am invested in ETH, and definitely looking to support some projects. I am looking to fund the projects with ETH, is tricky in case ETH goes into a freefall, since the ICOs will be paired with BTC after they are released (BTC too is looking at a correction, as you said). With that being said, where do you see ETH really retracing to, where would the bottom be?
-Also from what I have read, you do include news and upcoming events in your charts. Coinbase alone added 250 000 new users last month, if not mistaken, and all of them looking to get in. Don't you think influx of new money would keep us at this level, or be as a very strong resistance for a bigger drop? We have also a new set of EEA members joining in June, Raiden and some other announcements coming.
I have been left with the impression you are looking at maybe 3-4-5 months worth of correction?
Val.
IvanLabrie
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@SPyHandler, Hi, thanks for the kind words. I am waiting for now, there is a chance of a 1 month correction in ETH,but could also be a longer term consolidation, of 6 to 12 months. For BTC we are looking at 10 weeks, or up to 20 months worth of consolidating / correcting.
UnknownUnicorn989858
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Are your crypto trades still closed? Seems like there's only potential for ETH/EUR&USD to go up right now...?
UnknownUnicorn989858
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Thanks btw!
IvanLabrie
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@sovereignao, yes, I took a break for a while to calm down after a ridiculously huge winning streak. It is easy to make costly mistakes when you feel like you can't lose.