ETHEUR: UpdateWe had massive moves in DAO and ETH pairs today, due to the news regarding a problem with the code in the DAO.
Apparently, the uptrend is still in place, but there is a lot of fear in the air right now. This is the right enviroment to buy dips, and as you can see the support is holding for now (see green triangle and the dashed lines).
Technically speaking, I think the uptrend isn't ready to resume in full force, since we don't have sufficient time spent at these upper echelons (can't blame me for using the term :) ) to prove that there is re-accumulation before uptrend continuation as per the 'Time at mode' rules.
That being said, for as long as we're making 1 new high every 5 bars, we're technically in an uptrend, and for as long as the red dashed speed line holds, bulls are still present in this pair. For now, I reccomend holding ETH if you own any, if you were margin called out of your positions (like I was), sadly you're out with some loss. This brings me to the topic of leverage and crypto trading. If you consider the average volatility these instruments have, paired with the exchanges' problems, right at the worst possible time, you can conclude that is better to just buy the coins with cash, withdraw from the exchange and wait to sell when your price targets are hit, which will force you to adopt smaller position sizes, and trade from a longer term perspective.
I hope you found this useful, I'll keep updating this chart once I see clear signs of the uptrend resuming.
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Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
