I think ETH has fallen enough here. The euro value of it will turn around, since it has hit the levels associated with the Bitfinex hack.
If it doesn't go to 5.96710 within the next 2 months, we could see a monthly scale rally in it, probably due to a change in fundamentals.
It's good to see buyers step in here, so, it only takes an increase in activity, and some fundamental news to stage a rally. It's oversold enough, potentially. If you want to buy, you can risk a drop to 5.9671 and enter a 0.5-1% risk long here. Weekly charts show an uptrend, so on any new weekly high, we could see a rally take off.
Good luck,
Ivan Labrie.
If it doesn't go to 5.96710 within the next 2 months, we could see a monthly scale rally in it, probably due to a change in fundamentals.
It's good to see buyers step in here, so, it only takes an increase in activity, and some fundamental news to stage a rally. It's oversold enough, potentially. If you want to buy, you can risk a drop to 5.9671 and enter a 0.5-1% risk long here. Weekly charts show an uptrend, so on any new weekly high, we could see a rally take off.
Good luck,
Ivan Labrie.
Note
I like how it's acting here, holding at the top of the range since the low. Let's hope it stays this way, and progresses higher.Note
If ETH closes with the high like this, I fear it'll continue the downward spirals3.amazonaws.com/tradingview/snapshots/x/Xm6DNPLv.png
Watch today's close, if the high isn't above the key level above, sell and maybe sell short.
Trade closed manually
Looks bad, big range decline, sell, or even sell short. I'd rather not, due to low liquidity. A shame but we have to exit.Note
Yep, still dead.Note
Finex hack low hit, let's wait to see if it holds here for 3 1h bars and then we can buy a small position...or we wait for 5 days without a new low alternatively if more conservative.Note
This could be the bottom in it, buying a position here gradually seems smart. Split your entry over a week. Buy at the close of each day, risk is 1.90 euros per coin, factor in risking between 0.5 and 3% max on the whole position.
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