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DAOBTC

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. Check out my updated track record here: pastebin.com If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Ivan Labrie Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask. 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.
by IvanLabrie
19
DAO and BTC - Hedging positionsBitcoin up 11.15% $DAO down 5.16% Indicating strength in $DAO. This can be used to hedge your Bitcoin long position. $DAO has a reverse relation with $BTC. If Bitcoin goes down a bit, $DAO will go up more aggressively. ---------------------------------------------------------------- At this moment $DAO has not been on the market. But it seems like it does have an inverse relation with $BTC. $DAO might be usefull as a hedge but I am not sure how competent the team of $DAO is. There is an article on coindesk.com with the title "Will The DAO Become Ethereum's Mt Gox?" You can look it up. The headline seems very weird to. Too much speculation. Coindesk.com was hyping $DAO before it got in the market. Made me think that the coindesk.com team bought $DAO. If they try to manipulate the market with that headline to buy cheap ? We migght never find out. This is just an analysis. Consider the risks on every trade
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by RomanoRnr
2