ETHUSD about to crash (imo)

[Guest]

ETHUSD on the hourly, 2 lots of double stabs through Tenkan, MASSIVELY bearish divergence on the RSI, double top, doji's everywhere, hanging men everywhere.

 

ETHUSD on the 4-hourly, double stab plus single stab through tenkan, slightly bearish divergence on the RSI and the last 2 candlesticks were a hanging man and long legged doji and massively overbought.

 

I reckon ETHUSD is about to crash to at least 880 in the next 24 hours.  Let's see what the market does!!

EDIT - Forgot to add i would have sold at $1,080.

Edited January 8, 2018 by CaligulazBaby

[Guest]

I'm unable to make a considered post atm but I'd quickly like to say I don't like what's happened over night with my trade and would buy back in 50% @ the 1,100 (the current price). Brb!

EDIT - Other 50% @ 1,010

Edited January 8, 2018 by CaligulazBaby

[Guest]

I think the last 24 hours shows how important fundamental analysis is and how much of an impact it has in the crypto markets at the moment.  ETH was oversold across every time frame (especially 1D) apart from a bit of wiggle room on the hourly chart where it was at 65.  The Modern Investor from youtube (link at the bottom) released a video last night saying the Brazilian Government is going to use the Ethereum blockchain for their voting system given the transparency and anonymity of it all and BOOM, a massively oversold market went super oversold lol.  When I woke up the next morning I wondered how it managed to climb to almost $1,200 when it was ready to collapse at £1,080.  Given the momentum, the fundamentals and the psychological support at $1,000 I really didn't like the look of the chart hence my quick post above.  I made that because I would like to try and post my trades in real time so people don't think I'm waiting for trades to pan out then calling the winners and not posting the losers.

Anyhoo it did eventually pullback and made a very brief dip under $1,000 just after I set my imaginary buy order at $1,010.  It has since pushed straight back up and once again the hourly and 4 hourly have enough wiggle room to continue the bull run.  The (1D) chart looks to be going sideways or down for a little bit while kijun and tenkan catch up but if it does crash I can't see it going much further than $950 so it's not worth attempting to trade a dip, combining the recent fundamentals and shift in technicals the outcome seems reasonably close to neutral so I'd just HODL.

I'm going to imagine I started with 100 coins on each of my BTC ETH and XRP trade threads and see what happens if I was to trade my trades!  So for ethereum I just bought 100 coins at $1,055.

 

[Guest]

I think we could have another short opportunity on the horizon.  If it follows my arrows below then we have a double top plus bearish divergence and with the coinmarketcap drama complete and the Brazilian rumour accounted for I think we should be trading the technicals this time.  If the price and RSI do follow my arrows I'll look to sell at $1,160 and buy at $1,010 depending on the actual price path.

[ringer2]

Anybody shorting cryptos has to be crazy. Chance to get a little and chance to lose your shirt. 

[Guest]

5 hours ago, ringer2 said:

Anybody shorting cryptos has to be crazy. Chance to get a little and chance to lose your shirt. 

It's not shorting, it's cashing out then buying back in.  As opposed to betting against.

Edited January 9, 2018 by CaligulazBaby

[ringer2]

Got it. That’s a big difference. 

[Guest]

The price went up to $1,245 and the RSI 70 and now back down past $1,160 so trade is now open (I sold my imaginary ETH).  I did say $1,010 but let's see how the price moves.

[Guest]

About fkn time!

Fib 38.2 is @ $768 so I'm setting my imaginary buy order @ $800.

[Guest]

Back in at $800.