as alway with altcoins we will be reviewing the position in trade, i will be looking to increase the position if momentum down increase in volume & longs start to get squeezed at 2240.
This is a fairly risky position to take management of funds is essential, take a small position if you are playing the trade, position going against recent trend are always smaller than going with the trend, if we have confirmation with volume will increase the size of position.
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The bounce up last night was rejected. some profit was taken at 22100 on the first leg down..
22900 was key level of support & resistance on the way up, once this level was rejected on the shorter time frames i added the profit we took at 22100, shorting again at 22800..
this trend down now should continue for a few days with the 21600 target achievable, having revised the price action & charts this morning the target is revised to 2050 level for closing most of the position.
support 2100
resistance 2250
target.. 2050-21000
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my trailing stop hit while i was out.. only person in the club checking prices every hour lol. took full profits at 2170..
really missed the bottom on that one, 2100 or below would have been a good place to close that short.. got a bit greedy & punished losing some profits.
keeping this open as looking to enter again with another short soon, cant long it missing the 2100 bottom so only option is to be patient & wait to short the top again..
will update again soon..
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2200 IS about to be tested, will be shorting 2200 or below if price is below that range for over 30 mins or if there is dump with big volume.
target 2050
support 2100
resistance 2250
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80% of the last short at 2200 open.
Target 2050 or below.
i will be looking to long the bottom possibly.
will chart it if i do open a long position.
expect to see some panic & some big volume wicks down once 2100 breaks..
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Closed position temporarily due to Huobi bTC trading engine being down for almost 4 hours now..
took profits at 2125, was not worth the risk, not clear what kind of news will come out..
small chance of bad news, maybe some technical issues but not worth the risk, if things clear up & everything is ok & trading resumes will look for another entry to the down side after reviewing the market at that point ..
will update..
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Shorted the top on the bounce yesterday ..
entry - 2165
Due to huobi being down we closed early, it ended up working out nicely as profits were locked in & nice entry from 2165 again..
expect a few days for this to play out target is 2000..
stop 2190
good luck ..
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Closed this yesterday when the BTC Bull Trap took place..
closed at 2160 with fees just about break even.. there was strong support at at 2160.
the volume has come in so will have to wait a while to get a short in here, really not looking to long at these levels of 14$ , really only looking for a short opportunity.
Need a much lower entry for long so for now will keep playing a short setup.
will update when i get in position .
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Short from 2050 went well, got at at 1930.
BTC very bullish not helping ETH bulls + talk of hardfork & network being attacked by a greedy miner.
would not short here again unless we have a big breakdown with volume or if hardfork is confirmed.
will now close this chart & we will have a fresh once i get back in.
very good call and accurate to ur targets i missed the price you shorted from so i never took it
alexEnShort
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Nice call! congrats
I was thinking of going long at 217, I think your target is a good one
btcgene
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my strategy says to keep long. entry was at 0.02, so will wait until it says to close. profit factor for my ETH trades is 14, so will have to trust the system. market is always right, let's wait and see :)
Greenhill, could you elaborate how you came up with these 'support' and 'resistance' levels? based on Fibonacci? and why you have RSI, do you use it?
erelerel
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can you comment on ETC too please :)
Greenhill
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you should come on the main TV chat more often, 1800-1900 buy orders last night for everyone that asked about it.. still at the bottom place some orders at 2007 good entry..
koryu
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I am increasing my long position here at 0.0225. ;-) you are on the wrong side here my friend.
dudesl
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its just the rebound before the uptrend...
Greenhill
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hahah best you increase your long a bit lower down,, its going to 2200 at least
koryu
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gratz you did it, and I could have increased lower but I have build my main position on the low in weekly at 1900, so my average is still fine. May we be both right in the end :-)
Lucas6
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Yea, this guys posted "Short" a few days ago and he was completely wrong lol