I'm currently long ETH vs fiat, and short BTC, so effectively long ETHBTC / ETHXBT. The chart is quite bullish here, with a strong weekly uptrend, but a downtrend in the daily, which recently bottomed when hitting weekly mode support. I like how the last 4 days acted, and how we're holding above the DAO crowdsale key level, so I added a bit against this zone earlier. If not in the trade, you can risk a drop under yesterday's low, and enter longs in this pair, targetting a potential rally to 31.75 once the weekly rally kicks off.
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Cheers!
Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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Holding here at support, patiently waiting.
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Finding support, good. Let's see if we take off from here soon.
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ETH acting great! Holding longs is paying off.
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Leave a comment if you took this long.
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BTFD! Zerohedge readers will get it...I mean, buy the dip.
I also think long but have my doubts due to the massive dumps going on (last week until 10.43 + today until 7.95)
IvanLabrie
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But see how the selling was absorbed instantly...I don't mind holding longs. Just keep risk small, don't buy more than 5-10% of your capital worth.
rivet.popper
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Hi Ivan, how is this progressing? I'm thinking of buying a bit on this dip.
trgovac
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Hi Ivan, would you still recommend to buy the dip or should we stay away from ETH for now?
rivet.popper
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Agreed. Can you tell us what you think after the ETC spinoff drama?
IvanLabrie
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Fundamentals didn't change, in the long term it's still a buy. I'm holding longs for a couple more weeks. I closed partially on a test to the DAO hack key level, but rebought the dip.
i'm still keeping it