The target hasn't been hit yet, but we might end up hitting it, and stalling there for some time, as I had explained in the monthly chart I posted. If you're long, look into closing margin longs on target, or if you own more than 50% account, go back to BTC to maintain equal weights in your cash account (spot, no leverage).
The support here is strong, so you can probably look into going long if this support zone holds. BTCUSD is right against resistance, derived from the ETF decision news price action. It's a good idea to short with a stop at 1190+, or simply buying ETHXBT alternatively (if you didn't yet). We closed our margin longs on the previous bar, and now reentered. With some luck, we won't go any lower before hitting the weekly 'Time at Mode' target.
Good luck,
Ivan Labrie.
Komen
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You can exit here or a tad higher...buying on dips is fine.
Komen
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Refer to the related ideas. It takes time to absorb all supply and march higher, and ETHBTC has some significant resistance above.
Possibly until May or even June.
Komen
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Weekly target hit ahead of time, the uptrend can last for a lot longer, but this level might be hard to break, and might send price sideways or even retrace before rallying again. Let's keep an eye on it to buy back on dips.
Komen
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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.
It was a fourth possibility, we skipped all resistances and retested the DAO hack key level at 0.0222. This won't be so easy to break, we could slow down for a few days before going higher, or even longer. If we don't then this is an absolutely insane trend, and would probably become a bit too fast soon, maybe retesting the top of the DAO hack day quickly before correcting. Let's wait and see. Dips are a buy opportunity.
@rhb_3000, I don't know yet, I'm holding longs, and buying dips in the short term.
EthER13
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Target reached. Another fucking GREAT analysis. Ivan, I prefer not to judge you on your victories, but rather on your defeats, because you have few. Thanks again.
IvanLabrie
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@EthER13, Thanks.
It gets interesting now, the next phase in the uptrend starts after we break the massive resistance above in this chart.
The fiat chart virtually has nothing stopping it, this one does. Let's see how it acts in the coming days.
Cheers.
EthER13
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@IvanLabrie, Yes, ETH is acting strong. Hope that it continues its momentum, in the coming days.
JeroenHouttuin
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Exit 'here' meaning 0.019326, or where we are now? With ETH/fiat at an all time high, I feel like it might shoot a bit further.
IvanLabrie
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@JeroenHouttuin, ethbtc trades around here.
I closed a bit lower, the ratio chart can slow down or even retrace now, but if it doesn't it'll keep going higher after some time.
Fiat is a hold. I won't sell my spot holdings below 34 EUR. I will trade around my spot positions with margin trades in this ratio.
JeroenHouttuin
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@IvanLabrie, thanks a lot. I had also already closed at 0.019, but still hold some etheur. still looking to buy back at a next major dip, but it also depends on whether btcusd bounces back up. cheers, jeroen.
IvanLabrie
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@JeroenHouttuin, good.
The best thing to do is to hedge BTCUSD risk, buying into uptrend continuation setups here.