Ethereum(ETH/USD) Update 22/06/2017: Have You Shorted Ethereum Or Not????
In my last update on Ethereum on 16/06/2017 i.e. https://steemit.com/ethereum/@jimmyrai28/ethereum-update-16-06-2017-tip-to-short-ethereum ,I shared a tip to short Ethereum. If anybody has just followed that could have decent quick money out that trade.
Ethereum has been trading weak for few days but was closing above its 10 Days EMA (Red wavy line) after breaching it for multiple time. In this weakness, it was just a matter of time when breakdown become reality and it became yesterday. Oh boy what a reality and I want you to just look at chart below and see yourself. You can easily notice a yellow highlighted oval in chart, you know what it is; it is trading of just one day in which Ethereum plunged to touch a low of $13. Yes it is a flash crash, but guess how much money one would have made following just one simple tip by placing sell order just below a 10 Day EMA.
I am very well aware that such sudden plunge are not easy to catch, I myself missed that, but Ethereum has turn weak now as it is sustaining this downtrend by trading continuously below of 10 days EMA and its horizontal Support marked as Support 1 in chart below. Next logical support is at $264 level and i will not be surprised if i see Ethereum testing this support.
In conclusion, I am recommending to to look for opportunities to go short in this script with a stop loss of $343. As a trend has change to down from up, shorting gonna be beneficial as i always say " CHARTS ARE THE KING,TREND IS OUR FRIEND"
If you like my analysis do upvote, follow, comment @jimmyrai28
if not then criticize, this also will be highly appreciated.
You can also drop a comment in 'reply' if want you want me analyze any script of your choice.
Yeah there have been a few dips recently. I myself just bought a couple of days ago and its still dropping! Drops are fine as long as it climbs right back up and some. Do you have any thoughts on its value in the next few months?
BTW nice article- followed you
ethereum is a worst platform. I'm now going to drain out all my ETH within 1 week
why so disheartened? any specific reason or experience you would like to share my friend.
transactions are not being broadcasted over the network. coin disappeared from the wallet but can't be traced anywhere. People said that due to heavy load of ethereum mem pool, transactions are pending now for a very long period. At Bitcoin platform if tx is not confirmed then we can at least see the tx broadcasted. And if mem pool dropped the tx then we can re-broadcast it. Also there are so many options to confirm an unconfirmed tx on BTC blockchain platform. But for ethereum I don't know if any exists. However, I have about 800 ETH, now decided to sell 500 ETH and buy BTC with them. And rest of the ETH will be kept for Trading & ICO investment. But, when I make profits then I'll immediately convert my profits to BTC.
Oh that is so bad, of late i was hearing that ethereum has much more dynamic platform in respect of transaction and reliability but you have painted entirely different picture. if you are looking to divert than i must recommend siacoin, it look good on chart and moreover its cheap.
4000 sia coin= 5000 rupee, i have also posted my update on today.
ok, make TA. I heard Siacoin pumped so much. Have to look into this. Actually I hold a very few types of coins. Bitcoin, ETH, LTC, Byteball, MNE and Dogecoin. That's all
https://steemit.com/siacoin/@jimmyrai28/siacoin-sc-btc-update-22-06-2017-digesting-its-gains
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by jimmyrai28 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Forget Ethereum... You're taking off like a Rocket...
How do I invest in you...???
@pocketechange
You have already invested in me with your love and care