ETHUSD: Long again, after covering ETHBTC shorts in profit

BITFINEX:ETHUSD   Ethereum / Dolar
We had a stint with the short side recently, a quite succesful one, but at the bottom price action suggested that strong buyers had entered the market, so I covered shorts and flipped long $ETHUSD. Now a weekly signal is active and we can resume the last portion of the monthly uptrend to its eventual top -at least for almost a year after hitting it-. Targets on chart, between 863 and 1741.22, to be achieved by the end of November, or sooner. If we don't have any bearish surprise and drop under support on chart, we will surely achieve these goals.

Ethereum's coming fork, which will grant it with some interesting features, would be only the first part of the initially dubbed Metropolis upgrade, but comes at the right time, when $BTCUSD is already surging, so it makes sense to see both of them rally together while this trend lasts. My signals indicate the longer term trends in crypto are about to end, and we might enter a lengthy bear market phase, but careful study of multiple timeframes, sentiment and fundamentals gives me confidence that there's one last, and particularly sharp rally in the cards.

Best of luck,

Ivan Labrie.
Dagangan aktif:

$ETHUSD back at my 'oral cancer' level...haha. Just a graphical depiction of my extreme emotional response to price action, as price broke from that level, it accelerated, and hit weekly support. We bought margin longs at 292.19.

Emotions provide good signals and important levels to consider in our trading, they are the mechanism that your subconscious mind supercomputer uses to alert you of something big.
Dagangan ditutup secara manual: Lost like 4% in BTC. I'm out.
Komen: Back to the weekly bear trend in $ETHBTC.
Dagangan aktif: $ETHUSD is ready to move! This is potentially huge...

I've been buying $ETH for the last 2 weeks, added the last entry today at $336.
Komen: $ETHUSD can go a tad higher still, by the 28th it might consolidate for a couple weeks Depending on how this pans out, we will resume the weekly rally after a few more weeks, targets on chart.
Hey friend!

I agree mid term, but i am cautious short term... This could be a "buy eth to transfert btc to fiat faster" pump, like last time. ETHBTC could have bottomed out (looks like it did, for a little while at least, like with 0.07), but ethusd could see a sharp correction to the 290's or lower one last time if btc dips hard
Nope. Not agreeing with this ETH trade. IMO ETH possibly doesn't even break $375 and extremely doubtful of going above $400. Higher probabilities of $200's again by June 2018 rather than $400+ by then. Longer-longer-term though I think you'll see the $1000's or more...like early 2019.
Right now I see much better value in the ZEC trade, which is what I'm buying up slowly. ZECETH indicating bottom signs with lots of upside.
IvanLabrie Jesse_Livermore
@Jesse_Livermore, yeah definitely hodl ZEC.
I am a bit bearish on ETH as Rootstock launches on December. I would be suprised if ETH attempts a break out while Rootstock is about to be launched. What do you think?
@oguzozg, maybe they help the breakout a bit to bring attention back to $ETH, or they hurry up with Casper...
@oguzozg, think that NEO is cozing up with the Chinese gov, WAVES is well, making waves xD, RSK threatening to launch soon, etc.
They have to up their game...quick. I'm invested in 'the sector', overall, so, no prob.
Hello, Ivan.
Recently, it happened to ETH because of its own technical issue.
In this viewpoint, what about EOS nowadays?

In the last time, i've ever seen your thread about EOS but couldn't find it, so i leave my comment here.

In my personal view, it seems that EOS started to move, and i just wanted to share and ask an opinion.
Have a nice day.
I'm not liking this trade of closing out the ETH long. Volume spike and lack of price followthrough on BTCUSD are showing signs that this could be a pretty big short-term/intermediate-term high. Plus ETHBTC paused at making a lower-low because ETHUSD is showing accumulation signs with declining volume and tightening price range ahead of the EEA "Show-and-tell" Meetup in 3 hours...

IMO you just closed out before a flippening event.
+2 Balas
GreaterNinja Jesse_Livermore
@Jesse_Livermore, I'd have to agree with this. Fundamentals and tightening bbands + volume + failure to break lower support + triangle forming says a breakout can occur. Will have to see what happens in EEA NY today and Devcon 3 Nov 1. Technicals on btc/usd say its losing steam.
IvanLabrie GreaterNinja
@GreaterNinja, maybe it bottoms in the ratio soon, but won't hold it for now, could buy again if it flashes a clear signal.
+1 Balas
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