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[M°°nblade]

If ETH gets back to a nice round number, 200, 250 or 300 USD, do you think ICOs are going to sell their ETH at that point?

Will ETH rise as august 1st approaches if people convert their BTC to ETH?

Speaking of which, I read this article about what could happen in case of BTC hard fork, it does not paint a pretty picture:
https://medium.com/@jimmysong/why-a-bitcoin-divorce-will-be-really-painful-65fc54dec61d

This is what I thought as well about a month ago. However, reality painted a different picture. There's no hedging this market. If BTC crashes, ETH crashes as well, same for the rest of the altcoins. People rather convert their BTC to USD than ETH.

That's why I sold every BTC and ETH I had. I'm saving all of my money for august the 1st.

 

[Business]

Litecoin held pretty well.

 

[Brandson]

ETH charts looking like a support-turned-resistance situation forming yet again at the moment under 180.

 

[Brandson]

I agree; if it can't break through the next resistance, it'll resume the downtrend with even a lower low in the outlook. Not that I mind it; as long as the market is trending we can make money; there are way too many people that do not let go of their coins, which means we can margin sell their coins at resistance levels and give them back the coins at supports...

I think a re-test of the ~130 bottom, and however far it goes below that, if any, before bouncing back up, may be a good place to buy this downtrend. I'm thinking of buying at that point and then selling 50% at the next resistance high. What do you think?

 

[Brandson]

I know all this TA stuff looks and sounds like complete nonsense, but if a significant number of traders in the current down market are all strictly following it, it's sort of a self-fulfilling prophecy to a certain extent, isn't it? I don't know if you call that manipulation or what, but it is driving the current pattern, almost perfectly, because so many traders are following the same playbook.

I don't believe in TA that much in a bull market, but in a bear market, it seems like there are a greater number of experienced traders out there, so it kind of works then, especially in crypto.

 

[CaptainZombie]

I know all this TA stuff looks and sounds like complete nonsense, but if a significant number of traders in the current down market are all strictly following it, it's sort of a self-fulfilling prophecy to a certain extent, isn't it? I don't know if you call that manipulation or what, but it is driving the current pattern, almost perfectly, because so many traders are following the same playbook.

I don't believe in TA that much in a bull market, but in a bear market, it seems like there are a greater number of experienced traders out there, so it kind of works then, especially in crypto.

I have to agree with you. Looking at these charts from Saturday to this morning, it looks like traders pumping this up so they can sell yet again. There is just way too many consequent red candlesticks in the pattern. I could be reading this wrong too, but it looks like a possible dip is incoming again.

 

[Business]

I know all this TA stuff looks and sounds like complete nonsense, but if a significant number of traders in the current down market are all strictly following it, it's sort of a self-fulfilling prophecy to a certain extent, isn't it? I don't know if you call that manipulation or what, but it is driving the current pattern, almost perfectly, because so many traders are following the same playbook.

I don't believe in TA that much in a bull market, but in a bear market, it seems like there are a greater number of experienced traders out there, so it kind of works then, especially in crypto.

That's what a teacher of mine once told me when I questioned TA.

 

[Spuck-uk]

Watching ETH very slowly bleeding out is like watching a slow-motion car crash replay in Burnout.

I wonder where the bottom is. And when it's safe to buy back in.

It's always going to be a gamble, and it will never be 'safe'. If it was the potential gains and 15x price multipliers in a short space of time wouldn't be there.

Just treat it like the roulette wheel it is.

 

[walking fiend]

I have to agree with you. Looking at these charts from Saturday to this morning, it looks like traders pumping this up so they can sell yet again. There is just way too many consequent red candlesticks in the pattern. I could be reading this wrong too, but it looks like a possible dip is incoming again.

Volume surges can be a sign of trend reversal; we had one at $135 (not saying that the correction is over, but that we are getting closer to it at least).

Essentially what happens is that if you have a majority of the asset holders selling out at a certain price, say, $135, to protect their profits, it means that there will be fewer people with assets bought at an entry price below $135; which means there are fewer people that are willing to sell at any price below $135 (because they will be selling at a loss), and thus you will have a new support level. Of course, if the general consensus is so bad that people believe there is no real value and no long-term positive outlook in holding the asset, the market will crash and others will start selling their assets just to minimize their loss. I don't believe that will happen with Ether though

 

[pieface]

Jesus Christ.

Please for the love of god to anyone just entering this thread: literally no one here has any ability whatsoever to predict the price of any cryptocurrency in any fashion under any circumstances whatsoever.

This is pure gambling. There is no science. There are no fundamentals.

The difference between cryptocurrency and a casino is that if you happen to win in a casino, you can walk to a teller and cash out your chips. If you happen to win in cryptocurrency, you have to jump through hoops and hope and pray your earnings are successfully converted into USD and safely deposited back into your account without your transfer agent going bankrupt or being revealed as a total scam.

DO
NOT
INVEST
IN
CRYPTOCURRENCY

There's some truth in this but also a lot of FUD. Getting money out is fine.

 

[walking fiend]

There's some truth in this but also a lot of FUD. Getting money out is fine.

It is almost entirely wrong. It is a volatile speculative market and all the science of volatile speculative markets apply to it; which is to say that technical analysis does apply to it; there is truth in saying that TA is partly art, partly science and partly shamanism, but that has nothing to do with cryptomarket itself. I believe there is a misunderstanding between trading and investment here

 

[Brandson]

Volume surges can be a sign of trend reversal; we had one at $135 (not saying that the correction is over, but that we are getting closer to it at least).

I think we'll see the 150's again before August. 130's, I'm not sure. That might have been an aberration caused by manipulation.

 

[walking fiend]

I think we'll see the 150's again before August. 130's, I'm not sure. That might have been an aberration caused by manipulation.

You are probably right; looking at the chart, we have had previous upward movements even longer than this one, only for it to end with an even larger downward dive.

I guess we'll soon find out; if the price surge has been an overbought, we'll see a large downward movement correcting the upward surge today. I think if the price increase for yet another day, the correction is over?

 

[Brandson]

You are probably right; looking at the chart, we have had previous upward movements even longer than this one, only for it to end with an even larger downward dive.

I guess we'll soon find out; if the price surge has been an overbought, we'll see a large downward movement correcting the upward surge today. I think if the price increase for yet another day, the correction is over?

Could be over. Movement is swinging a bit sideways right now. 2100 for Bitcoin and 180 for ETH both need to be tested again to give a better picture.

 

[Brandson]

I was in a meeting during that Bitcoin run. First off, the run looked artificial as hell. Also, I can't be sure, but it looked to me like ETH was being suppressed from going with it. Not totally sure what the intention was there, but I think it's all still going to go down again over the next 2 days, even if it's pushed higher today.

 

[Brandson]

Made a quick 2% trading the pump above 180 just now. It might go a bit higher. Really hard to say right now, but I have to walk away from my desk for a few hours. Can't risk holding ETH for that long unattended yet.

 

[CaptainZombie]

Wow! Eth has really increased since yesterday's $135 lowest price. Either it keeps going up and up or we see another drop, seems to just be moving up too fast feels like it.

 

[x3sphere]

Yeah I expect a return to 160-170 at least, could see 200s today at this rate but I think a drop is a more likely at this time

 

[Aztechnology]

This upward trend is far too steep after a massive crash like that not to be influenced by a pump. I'm concerned by the amount of manipulation that's going on.

 

[CaptainZombie]

This upward trend is far too steep after a massive crash like that not to be influenced by a pump. I'm concerned by the amount of manipulation that's going on.

I feel the same way, how do we go from $135 to $190 with Eth so quickly yet now it is starting to drop off again. I know Crypto is a different beast, but I feel both bitcoin and eth are being pumped by the whales, and it is a shame because it starts to also pull down some of the really good alt coins in the process when these start to drop.

 

[walking fiend]

Yeah I expect a return to 160-170 at least, could see 200s today at this rate but I think a drop is a more likely at this time

If it goes below $180, it'll probably move into an even lower channel, maybe $100? It needs to clear $200 with a high buy volume to break out of the downward trend. (I personally would like to see it drop; hopefully, it'll take down all the shitty alt coins with it too)

https://www.tradingview.com/x/znliAOF8

 

[Brandson]

If it goes below $180, it'll probably move into an even lower channel, maybe $100? It needs to clear $200 with a high buy volume to break out of the downward trend.

From reading all the forums, it sounds like a lot of people are regretting not buying in the 130's and 140's, and are readying themselves to pounce on any buy-in number that looks good, which is probably anything under $160. I expect a lot more resistance getting to $130 and lower this time. If there's a big dip again, I'm buying-in at least 50%. It would be surprising if $180 is the new bottom for now, but it's possible that it is.

 

[DonMigs85]

http://www.cnbc.com/2017/07/17/coindash-website-hacked-7-million-stolen-in-ico.html

Always be vigilant, dudes

 

[Donos]

Ah, the stronger than the rest rise/recovery of IOTA was probably because of this news

Micropayments startup SatoshiPay has announced it intends to phase out its use of the bitcoin blockchain as the underlying technology that enables its transactions.

Announced today, SatoshiPay has partnered with the IOTA Foundation, a non-profit that oversees network development, to explore replacing bitcoin with IOTA as its settlement network. SatoshiPay has been relying on the bitcoin network to settle payments since its product launch in 2015.

http://www.coindesk.com/satoshipay-stop-using-bitcoin-blockchain-micropayments/

 

[NiiloPielinen]

Is there a way to place order on GDAX with rules like:
if price < X then buy as much as you can using max amount of Y <currency>

 

[Copenap]

Is there a way to place order on GDAX with rules like:
if price < X then buy as much as you can using max amount of Y <currency>

You can just do a limit order. It's not exactly what you want but in most cases should result in pretty much the same thing.

 

[Brandson]

I just went 50% ETH at 190 after watching the movements for the last few hours. I think there might be another blip under 180 in the next few days, but I don't think it's going to linger there for long anymore. Bitcoin seems to have gotten a reprieve from disaster so everything should start stabilizing. And if not, I have more fiat to play with to average my buy-in price.

 

[NiiloPielinen]

You can just do a limit order. It's not exactly what you want but in most cases should result in pretty much the same thing.

Yeah, I was thinking about that but it asks to enter the amount I intend to buy and to my understanding it will only buy that amount.

So if I think, let's say buying LTC with 450 at 45 per LTC, I set a limit order saying I want to buy 10 LTC at the price of 45 or lower. Now, if the price actually falls to, say 35 , it would buy 10 LTC for 350 instead of 12.8 for 450.

 

[Brandson]

It's amazing how witnessing an 8000 ETH sell wall being eaten can change your perspective on things. If this isn't the turnaround, I think it's very close.

 

[Borboleta Amarela]

Shiiiit. I was thinking of buying the dip and decided to wait until this weekend.

Hope it still goes down...

 

[walking fiend]

Shiiiit. I was thinking of buying the dip and decided to wait until this weekend.

Hope it still goes down...

You need to have some strategy. If you are day trading, you need to react fast; $135 was an obvious turn around sign; however, if you are looking into longer term trading, there is little difference between $150 and $200 in a market that moves 25% in a week. Don't fall into a trap by feeling you are missing out. Movement of Ethereum has stalled where it matters the most

 

[Borboleta Amarela]

You need to have some strategy. If you are day trading, you need to react fast; $135 was an obvious turn around sign; however, if you are looking into longer term trading, there is little difference between $150 and $200 in a market that moves 25% in a week. Don't fall into a trap by feeling you are missing out. Movement of Ethereum has stalled where it matters the most

Not day trading. Just wanted to increase my ETH quantity for a lower price but in the long term, I guess you're right. Not that much difference.

 

[walking fiend]

Not day trading. Just wanted to increase my ETH quantity for a lower price but in the long term, I guess you're right. Not that much difference.

Understandable. Wait for the daily trend to reverse (it is still downward), then buy at the next dip. Essentially, when the market is trending upward, there will be times when it will be oversold, when typically ts short-term momentum indicators (in the range1 hours, 30 minutes etc.) will go down below a threshold (i.e. stochastic RSI goes below 20%), wait for that over-sold momentum to end (i.e. its stochastic RSI K moves over D and starts crossing over 20%) and you'll have yourself an entry point.

Right now it seems daily momentum is being reversed, however, it is not really a great entry point as we are in a possibly overbought region unless you are willing to watch your assets very closely for a few days.

 

[Brandson]

There seems to be a lot of support in the 180-190 range now. Not sure about 190+. 200 is about to be tested and I think there is a good chance ETH storms past it. I think any significant downward movement won't happen until 200 is broken, but might only go as far as 185 or so now.

 

[Aquavelvaman]

So close to $200 on gdax. I think we're going to see some sparks in the next couple hours

edit: just broke holy smokes

 

[Brandson]

Cleared 205. I'm eyeing the 210-220 range for a possible reversal.

 

[Brandson]

Every time I think this run is about to collapse, it finds more support. I'm back 100% in fiat watching it. Made 10% trading this run this morning already.

 

[Instro]

Every time I think this run is about to collapse, it finds more support. I'm back 100% in fiat watching it. Made 10% trading this run this morning already.

Seems like it's done, I imagine we will slide now until the next big drop.

 

[walking fiend]

Seems like it's done, I imagine we will slide now until the next big drop.

We just finished wave 5 of a minor upward move; unless this upward move has more waves, the larger wave resumes now and the prices will go down. If it settles at an hourly low above (4), it probably means we have more upward waves until the pattern finishes

https://www.tradingview.com/x/Ft5ieegB/

 

[Brandson]

Seems like it's done, I imagine we will slide now until the next big drop.

My personal observation is that there appeared to be more people buying during this last run than on other ones recently. The slide might not last as long since more parties would want to buy back in..

 

[Brandson]

We just finished wave 5 of a minor upward move; unless this upward move has more waves, the larger wave resumes now and the prices will go down. If it settles at an hourly low above (4), it probably means we have more upward waves until the pattern finishes

https://www.tradingview.com/x/Ft5ieegB/

Do you think it's safe for me to grab lunch?

 

[walking fiend]

Do you think it's safe for me to grab lunch?

Haha I don't know; I am still playing around with my $30 from a few days ago lol

BTC seems to be driving everything else (I assume because it is the least volatile of them all and has the largest market cap?), and it has formed a bowl; unless it can clear a daily $2400, I don't see it being safe; a bowl is essentially like a weird consolidation sideway move, as the assets bought and sold are almost exactly of the same value; it is merely a gap being filled in the chart (that is my understanding of it, I might be wrong). What I like to see in the crypto charts for it to be safe is to see either the price drop down to $50-$90, or a majority of the assets being sold. Otherwise, the market will still be rampant with early investors who don't mind manipulating the market at will as they are so much in the green that they can take any loss even if the price drops 50% overnight, or see a daily or maybe even weekly trend

 

[ZOONAMI]

To the moon to $300+ happening or just a wave with another correction back to $150 or so?

 

[Brandson]

New EEA member list was just released: https://entethalliance.org/enterprise-ethereum-alliance-becomes-worlds-largest-open-source-blockchain-initiative/

These usually have a positive effect on the price of ETH.

 

[Brandson]

ETH/BTC pair up 12.55% at the moment, to .09216.

Edit: now 0.094

Edit #2: now 0.09644

Edit #3: now 0.102

Edit #4: now 0.111. This is fun.

 

[Brandson]

Serious buy volume going on right now.

 

[x3sphere]

Yeah I missed this run with my trading stack, oh well. Times like these are why I never touch my long term holdings though.

 

[walking fiend]

New EEA member list was just released: https://entethalliance.org/enterprise-ethereum-alliance-becomes-worlds-largest-open-source-blockchain-initiative/

These usually have a positive effect on the price of ETH.

News definitely triumphs over charts; Ether over by 50% in a matter of a couple of days, amazing

 

[CaptainZombie]

Yeah, I can't believe it has jumped up to $230. Can this be a bad thing that Eth has risen so fast, including BTC that we could see some kind of dumping occurring soon.

 

[Brandson]

Time zones that are asleep right now are going to be upset.