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ETHXBT: Ethereum has a very clear triangleMy analysis of this pair suggests that Ethereum is about to break from a huge triangle present in the daily chart. The volume information tells us that the fair value price has shifted up and down 5 times already, in smaller and smaller swings, time and price wise. This is typical triangle behavior. The safest way to trade it is via a breakout, but I think it will just dive down, so, this is a short in my opinion. You can enter on breakout, but I'll leave my forecast for time and price intact. Cheers, Ivan Labrie P.S.: Contact me for access to my private groups, currently providing trading signals for BTCCNY futures, analysis on request, private tutoring and also Forex signals and coaching as well.
Short
by IvanLabrie
2
ETHXBT: UpdateEthereum seems to have picked up on activity after being really illiquid for the past week. We have a clear mode at 0.0051, and an interesting volume and range expansion out of it. If we start seeing new highs every 5 days at the very least, we can say that the uptrend has resumed and we can expect to hit prices over 0.0081 again. I'm rebalancing my portfolio, keeping a 70/30% weigh, so every 5%+ price swing is either a buy or sell to maintain the BTC value of my ETH intact. If you're trading with margin, let me say that you're playing with fire. ATR is simply too wide. If investing without leverage, you can buy dips to today's 50% range from open to high after the close. As long as we start seeing new highs every 5 days we'll be safe. Good luck! Ivan.
Long
by IvanLabrie
121