DataMoney

Saturday slowdown - Opportunity to take a day off

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
This week was interesting and a bit nerve-wracking. Bears were getting ready for their turn and suddenly had it shove up their shorts. Elon didn't miss the opportunity to troll the market with a single #tag sending BTC 20% up! Honestly, it was quite amusing. After the dust settles, things seem to slow down, volumes are dropping. If you want a day off - close your positions, sell any crypto overweight that you have and just enjoy the peace.
For those more adventures of you who still try to fight, trade and squeeze what's possible out there - the position is short. Resistance levels are unclear and unlikely to breach 1370 in the upcoming hours. Forecasted top hights seems to be at a safe distance of 1408. Downwards trend should continue and may reach 1280 with the first strong support line to test at 1245. If it suddenly drops below 1270 we may visit 1245 sooner rather than later.
Enjoy your day off - I know I will 😎🍹
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Comments

I'm trying to understand why people are thinking ETHUSD is bearish and that the bears are somehow being deceived. From what I can see, we have a horizontal resistance at 1430 and we have a big ascending triangle with a flat top. A classic bullish continuation pattern being formed at the ATH zone. Of course anything can happen. Are you still short for the long term?
+1 Reply
DataMoney roryh86
@roryh86,
What makes you think that there is such ETH/USD pattern? Surely most traders do not care if market goes up or down. However leading indicators and technical analysis may provide vital insights that would make the whole difference in the world between profit and loss. I publish my technical analysis for day traders. People who work hard to make 10% profit per day. Today is not a day to put all that hard work in. Therefore my forecast for the 30th of Jan is - take a break. Close your positions if you have anything open. Short if you must, but to do expect much profit. 😉
Reply
roryh86 DataMoney
@DataMoney, I'm looking at the chart and if you draw a horizontal at 1430, this is the resistance line, and on a 4H chart you can see the ascending triangle. Eventually should break above that line move up. I just think it's risky taking short positions towards the end of the bullish triangle. 10% a day is amazing :) I need to do more day trading..
+1 Reply
DataMoney roryh86
@roryh86,
Thanks for your comment. If you wish to improve your profits - follow my daily forecasts and share it with your friends. My goal is to get as much feedback as I can to find ways to improve my model to 15% daily yield 🤑
Reply
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