SO over the last 49 days, about 1 million Ether has been mined.
~$200 million dollars worth. Did the world really get 200 million dollars of new value from it? Will we ever?
Probably not. All I can see is additional selling pressure.
THIS is what happened when someone dumped a measly 120k Ether in one hit.
[url= cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif] cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif
WHEN they tether pumped BTC to the moon the other day , eth only pumped 30 bucks on USD exchanges, that is bearish beyond belief. No one wants to spend REAL money for this.
LOOK at this.
Opening short after a monthly close below 200 would be a good, safe strat, I mean we should be buying support so only short if we genuinely lose it... I like a gamble tho and I'll probably miss the boat if I wait cause these moves happen so quickly sometimes. I'm biased enough to the downside to comfortably have a short open(i.e. it isn't stressing me out and I don't need to check a bazillion times a day). STOP at $226.
The bulls do have this in their favor so GJ if you've got the brass balls to long this and win.
~$200 million dollars worth. Did the world really get 200 million dollars of new value from it? Will we ever?
Probably not. All I can see is additional selling pressure.
THIS is what happened when someone dumped a measly 120k Ether in one hit.
[url= cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif] cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif
WHEN they tether pumped BTC to the moon the other day , eth only pumped 30 bucks on USD exchanges, that is bearish beyond belief. No one wants to spend REAL money for this.
LOOK at this.
Opening short after a monthly close below 200 would be a good, safe strat, I mean we should be buying support so only short if we genuinely lose it... I like a gamble tho and I'll probably miss the boat if I wait cause these moves happen so quickly sometimes. I'm biased enough to the downside to comfortably have a short open(i.e. it isn't stressing me out and I don't need to check a bazillion times a day). STOP at $226.
The bulls do have this in their favor so GJ if you've got the brass balls to long this and win.
Note
Here's a more refined strategyNote
Wait for a crystal clear break of the inside bar and more critically, the daily support zone at $150, and that should reduce your risk significantly.Shoutout to MrRenev for inspiration.
Note
Oh and we need to wait a few more days to confirm the inside bar. It looks very likely at this point.Note
Well Eth broke down. However, shorts are getting dangerously close to "wait stop, fuck them let's squeeze" territory. Extremely risky I think to short around this area at the moment. Better to take profit.Note
Well this idea went well.Next entry?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.