ETH - Next Support at $150, expecting $520 after a reversal

[TargetCoin]

Ethereum is going down to $150 technically. $150 is also a Fibonacci 0.786 retracement of the move from 99 to $420.

Looking for it to go to $520-540 on a reversal, which is an extended fibonacci target.

We called the Ethereum shorts when it was at $320 and $270 on our Twitter

Target Coin is a tokenised long-short fund making money on both price rise and price fall. Join the ICO

[Chevas Regal]

Saw your calls on Telegram. Can you explain how you made those calls and your analysis?

[aleksand]

Saw your calls on Telegram. Can you explain how you made those calls and your analysis?

i just googled about the team members of Target coin and seems they have good hands on crypto trading, Akshath Naik who is the Founder used to have some trading Expert Forum as per google.
I saw his twitter handler and it seems full of analysis. he is somewhat a chart Guy.

His linkedIn:  https://www.linkedin.com/in/akshath-naik-8936276a/?ppe=1

[TargetCoin]

Saw your calls on Telegram. Can you explain how you made those calls and your analysis?

Hi, 97 was the previous high. It made a move from $97 to $220 and from $220 to $420.

$150 is the Fibonacci 0.786 retracement level of the entire move and also a support on 4H chart. There are good chances of it Turning at $150.

[cunicula]

@OP, What are your thoughts on Golem? Can its value increase to 3-4$ after release of Brass?

[kolesozw]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

[TargetCoin]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

That is what makes technical indicators work. This is nothing but a big correction. And btw, we called this shorts long ago for the same technicals because they reflect human psychology.

[ktabb]

You're going to be really disappointed. Any reason you think Eth is worth more than 10x what it cost 3 months ago?

[joshy23]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

That is what makes technical indicators work. This is nothing but a big correction. And btw, we called this shorts long ago for the same technicals because they reflect human psychology.

Thank you for sharing you call here. If I'm not mistaken you have a current signature right? I may have miss your first prediction on ETH, but I will follow your telegram to see how your prediction fit. I have profited good from ETH and sold everything. But I'm thinking of getting again in the bandwagon, and if your prediction is correct, we will surely get a huge payday again.

[andrei56]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

Technical analysis has its place but I think some people think that a magic formula will be found someday that can predict the markets and that is not going to be the case, right now most of the market has only one way to go and that is down if we take into consideration all the factors currently affecting the market.

[Nalien]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

Technical analysis has its place but I think some people think that a magic formula will be found someday that can predict the markets and that is not going to be the case, right now most of the market has only one way to go and that is down if we take into consideration all the factors currently affecting the market.

Of course technical analysis works. However, the profitable indicators are regularly adjusted and recreated by the nerdiest of nerds and not just found online or in the free toolboxes provided by trading websites.
Large scale industry players are well aware of these indicators and accommodate for all of them in their analysis.

Since I don't know how involved TargetCoin is I can not comment on their signals, but generally speaking they could be the real deal.

I would never follow any calls without doing my own due diligence though, so good luck to all of the gamblers who follow anybody who uses important looking words.

[TargetCoin]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

Technical analysis has its place but I think some people think that a magic formula will be found someday that can predict the markets and that is not going to be the case, right now most of the market has only one way to go and that is down if we take into consideration all the factors currently affecting the market.

Of course technical analysis works. However, the profitable indicators are regularly adjusted and recreated by the nerdiest of nerds and not just found online or in the free toolboxes provided by trading websites.
Large scale industry players are well aware of these indicators and accommodate for all of them in their analysis.

Since I don't know how involved TargetCoin is I can not comment on their signals, but generally speaking they could be the real deal.

I would never follow any calls without doing my own due diligence though, so good luck to all of the gamblers who follow anybody who uses important looking words.

Yes, I agree with you that technicals keep changing and there is no magical formula. They have evolved over a period of time.

Yes, having your plan and following it ideal as you can not make big money following someone else's advice a couple of times.

Target Coin founders have been trading since 6 years and have managed a $25Mn hedge fund before.

[brandeany]

when ETH reached it's ATH last month it faced with the scaling problem. Unless the problem is resolved I won't think it can have new ATH.

[ostsee77]

i think today 140$   .  No ground to see 

[mkmdoc]

i think today 140$   .  No ground to see 

Still, many big expectation on ETH because by the end of 2019 ETH may reach to 1000$. These is best time to buy ETH, because many new people entering into ETH market.

[adaseb]

Technical analysis isn't that reliable but its actually more reliable then anything else out there unless you got some "insider trading" info.

Nobody these days really trades on fundamentals.

$150 could be support, but you need confirmation first before going long. It will need a large reversal first.

I think the $100 phys will most likely get tested and the $100 area looks like a demand area.

[BTCLovingDude]

you may be correct about the bottom here but there is no way your rise in reversal is true.
you see the only reason why ethereum went up to the current ATH is because of all the ICOs that were getting hyped each day. we literary see another million dollar ICO each day

this can NOT happen ever again. it was a one time thing.

on top of that, all these ICOs are cashing out, some doing it slowly, some waiting for their funds to be released so they can dump it and some already dumped a part of it because of panic and held some in case it went up and will dump more.

also on top of that is the scaling problem that ethereum is facing. it is pretty serious that forced the exchanges to disable the wallet for a long time until it is fixed.

they have already lost their foothold in the market. other coins have came up and replaced the "profitable-must-invest-to-the-moon" situation and people are busy with them now.

[coinman180]

It will rise again, but I think within a few months is too early.. From 7 to 500 is just too much

[dennyd999]

Exactly.

Scaling,scaling,scaling problems

Also ETH Metropolis update will bring dapps online store. If some of dapps will become everyday usable I doubt ETH network could functional well.
As we saw recent network crash from simultaneous ICO start. Imagin simultaneous dapps using, also ICOs on network and transactions with switching to PoS!  Craziness.

ETH need clear Scalability problem solution first.For Bitcoin it was long 2 year politics war which hopefully will end on August.
They say there is no politic in ETH probably scaling issue will be resolved faster.

Also ETH switching to PoS can bring new glitches to network. Devs made bugs in network before which resulted at DAO hack. Precedent exist.

Look this article below from Tuur Demeester with health criticism of switching ETH to PoS

https://medium.com/@tuurdemeester/critique-of-buterins-a-proof-of-stake-design-philosophy-49fc9ebb36c6



P:S: I forgot to add that Alphabay servers is busted. Main Admin suicidal at prison.
Alphabay existed for years using only Bitcoin.

After they add ETH, Monero and Zcash they was busted. Obviously it is not coincident.
And noone knows for sure which coin had backdoors. All 3 is suspicious from now.



A lot of bad news especialy Alphabay closure and death of admin.  It means no real usage for ETH again.

[BenR]

Fibonacci 0.786 and many other 'signals' are useless in crypto trading.
You are working with/against humans. Not Fibonacci's. Everybody is now on panic on BTC price decline. And most of them never heard of Fibonacci. Fear is the biggest signal and factor you should conciser.

Good point. Fear vs. FOMO - if enough people reinvest/double down could lead to the next upswing.