CUBYC
Long

ETH bottom revealed!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hello

Here is my ETH idea for this year.
Target ETH between 2$ and $99 by 2019, which confirms me that BTC might be be $3000 by October and under $1000 by 2019


Thanks
Comment: Hi I had a lot time past days to look at the market and there is a very big possibility that market will reverse around $200 area and ETH might go to $500 then back down. It should happen in a relative short time, around a month or so. I don`t have a perfect drawing but might be something like this:

Comment: Hello

Target $200 hit but I do not believe that will go to $500.00 not anymore, still I see H&S forming, let me know in your comment what you believe.
Thanks
Trade active: Hi
I posted a comment instead of updating my idea
This is still in play, I know the path may be not 100% accurate but I`m expecting bitcoin next 2 months or so to reach my first target under 3K, so ETH will probably go under $100 next weeks, will see.
Good luck
Trade active: Hello guys,
ETH got under $100 !!! For those who believed and shorted this now is time to start closing your short orders, keep an eye on the market as we might see more dropping on ETH because BTC did not got under 3k yet...
I am still waiting 3K for BTC this year and even 1.8K is possible seeing price action these days, so ETH might go way lower than $100, but I might be wrong and we got bottom in, who knows... so far I`m happy with my ideqa and BTC over 5K will invalidate this idea.

Cheers
Hi again. Chart accuracy is such a subjective thing to judge/measure. In my opinion it's accurate enough and of course it so happens to coincide with my view of the market so I have a bit of bias there lol.

As we discussed previously, a good recovery did occur to then meet and get rejected by the down trend resistance. I expected a greater fakeout (ETH to 280 perhaps) but we can't always get what we want! Nevertheless, market structure seems strong on the idea that a downward movement is still in motion and as you pointed out in BTC, if it reaches 3k then ETH (and everything else) is likely to get hit and go further lower in price too. I'm not sure about as low as 3k but I feel certain BTC will get rejected once more at resistance between 6800-7100 so ETH may have another chance to attempt a run towards 280 before bearishness continues.

We can't rule out the possibility that a bull run may occur, but with little evidence as to why it may happen or support from trend action, I would still say it is not likely. Either way, there is another excellent trading opportunity coming up :)
+2 Reply
CUBYC triplewield
@triplewield, Wow your vocabulary is really good, makes me feel bad that english is not my first language, anyway I agree with all you said and I do not believe in another bull run from Bitcoin or altcoins, as you said we can't rule out this any possibility but what makes me believe this?

1. Alcoins were pumped really weird this week and because people expecting pump from those who did not pump I think will not happen, I bet most of the traders bought coins that did not pump `already` and they will probably never will and they will be caught in wrong market direction based on wrong speculations. XRP bull run was really fast and the retrace was similar, but same as ETH when bitcoin pumped it did not follow him, what makes me believe that majority of the traders still believe in a bull run and bought these coins believing they will pump eventually.
2. Bullish sentiment is currently still strong and as always market will prove contrary. The end of the week and month is close, most important end of the 3th quarterly for this year and I`m expecting next month to get a clear breakout of BTC support , who know how market will react, imagine after whole year of 5,8- 6K support and it will be breached eventually in my opinion, but lot of traders believe that bottom was already in and those who believe that I suppose that they will panic when breached and create new chain of events that we can not predict.

That said I`m expecting a drop without any major consolidation next months or at least this is what I see for the moment...
Cheers
+1 Reply
@CUBYC, "they will panic when breached and create new chain of events" - it is this kind of occurrence in the market that regularly repeats. I like this :)
+1 Reply
Hi
Seems that ETH will not pump after all... :( after recent bitcon pamp ETH did not managed to pass $250, well there is still time and at the time of the writing is $230, I suppose will reach 250$ eventually but I am not see ETH going above 280$ anymore.
Reply
Accurate about the inversed H&S ;-)
Do you think buyers will exhaust now?
Reply
CUBYC karamazov06
@karamazov06, Depends, neither $280 or close to $500 was hit. So I still believe in a pump before the big dump... might be wrong and dump will start now. Will see these days I suppose.
Reply
@CUBYC, I also think about a pump before a dump... as always, BTC needs to trap people! :-D
Reply
A bounce to 500 is optimistic and I always get caught out when I begin wishful thinking. If the market does decide to rally up to 500 and break out of the bearish structure, I believe it will be a fakeout and a violent drop will occur. So further to what you have already shown, I believe a break downwards is likely and your end of year target of ~100 may be realised. I don't know about you but i'm struggling to identify and manage the time horizon for these opportunities - perhaps just put it down to that seasonal effect?
+1 Reply
CUBYC triplewield
@triplewield, This is may be possible... I saw 500 early in August but yes not believing anymore, although I have a feeling that bull will start now...
Reply
@CUBYC, No complaints by me if the bulls decide to take over. I guess by mid September we will see if the angle of recovery is steep or shallow and hopefully some more clues will reveal then. My feeling is still on a fakeout if it does switch to bullish over this month and next so i'm being extra cautious on setups.
+1 Reply
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