$ETH Sold at $335 - Now Back in Long at $230 - Here is Why

UPDATED - 9/14/17

BotTrigger Trade Alert: $ETH bought back in @ $230.24 bringing our entire allocation back to 20% long on ETH as a core position to the BotTrigger Crypto portfolio. We originally sold half of our ETH @ the $335 as we addressed concerns of the double top that was occurring whilst waning momentum was causing several bearish crossovers to occur on both stochastics & MACD. We later outlined that the most obvious retracement levels for this pullback would be anywhere from $266 to $233. We calculated those targets based on Fibonacci retracment levels that match up with key support levels. Today we've gotten a slight breach of our $233 level where ETH went as low as the $223 area. What's more, this entire move down is happening with earmarking volume surges that we typically only see during exhaustion tops or exhaustion bottoms. Take a look back at every ETH bottom and you'll notice the same type of volume surge come in off the lows. This is a form of both capitulation from weak hands that fold and yell uncle and mega whales that orchestrate massive buy orders around this area. We are back long on ETH here.


BotTrigger Crypto Trade Alert: $ETH sold 50% of our entire allocation ETH allocation @ $235.62. We're further monitoring $BTC as well here for a potential topping formation on the near to intermediate term. We are not bearish on crypto in general. We are in a bull market. We are simply trading around what we believe is likely to be a corrective period that is likely to retrace lower before moving higher. Just as we sold ETH back around the $366 level in mid June before the massive correction that ensued, we're noticing a similar setup that's presently brewing on both ETH & Bitcoin in the present moment. There is evidence to suggest that Crypto will see lower before seeing all time new highs on these 2. Let's go over why. 1) potential double top formation. Easy to say the phrase "double top" ...but why: The most recent revisit of the highs is occurring on waning momentum as key oscillators are starting to cross into a "bearish crossover." This occurs when the faster signal line (blue line) crosses underneath the slower MACD line (red line) as shown in the attachment. This is not just showing up on MACD but also the Stochastics momentum oscillator & on several key time frames. This alone however wouldn't get us to reduce our ETH exposure. The give away here is the giant "bearish engulfing" candle bar on the 1day chart that occurred on Sept 4th. This bar is just a tad bigger/deeper than the June 14th candle bar that avalanched ETH from the $408 high to the $138. No evidence just yet that a repeat is here. We're just mitigating risk by reducing for now. Shot gun warning

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

  • stocktwits social icon
  • Twitter - Black Circle
  • Facebook - Black Circle
  • YouTube - Black Circle

513 Garden St - Studio C  |  Santa Barbara CA 93101       info@bottrigger.com  |   805-825-7777

© 2016-2019 by BotTrigger Inc.

These results are based on performance results that have certain inherent limitations. Each trade is executed in BotTrigger's S-Corp trading account in the BotTrigger portfolio managed exclusively by Mike Saad, founder & CEO of BotTrigger of Lovical Inc & MomentumStockAlerts.com Inc (umbrella corp). The performance results shown in BotTrigger's portfolio may vary at certain times of the day due to our API feeds that pull the current price of open or closed positions from Yahoo Finance.  Although BotTrigger has consistently outperformed the S&P 500 benchmark by more than 50% per annum since inception, August of 2016, no representation is being made & or promised that any account will or is likely to achieve profits or losses similar to these being shown. BotTrigger so far this 2018, is on pace to achieve it's largest annual YTD return now in it's 3rd year since inception. This performance assumption is not promised but is being communicated that so far we have achieved the highest rate of return on a YTD & YOY (year over year basis). If a majority of our trade setups fail to materialize based on our analysis or trade thesis, it is absolutely possible to close below our running 50% average if not negative. BotTrigger may & often times does  implore hedging strategies and/or stop-loss precautions in the event that the BotTrigger portfolio sustains heavy losses that might cause the cumulative net value of BotTrigger's portfolio value to near below our 50% threshhold of YTD gains. Our goal at minimum is to be up YTD by up to at least 50% or greater. In the event the net weighting of our trade allocations drops the entire portfolio value below this threshold, then triggered sell signals are generated to reduce to a sizeable position of cash.

Past performance is no guarantee of future results and may not reflect potential deductions for fees which may reduce actual realized returns. Any historical returns may not reflect actual future performance and any investor on BotTrigger may experience different results from those shown. All our trade alerts are real-time but in some cases may be delayed due to technical delays with our SMS/MMS delivery provider or the speed in which a Member's mobile carrier accepts the depository of our delivered communications and then how soon a Member's carrier may deliver that trade alert/ message to our Members. Delivery times are nearly instant from the time we click "SEND" and often delivered to Member's mobile phones within 10 to 30 seconds; but on very rare occasion that delivery might get bounced or delayed; again this is rare but it has been known to happen. There will be times that BotTrigger's communicated entry is below or above the pricing our Members may receive communication due to market delays or delays with our SMS/MMS Mobile Text delivery provider, EzTexting 

Disclaimer: Neither the SEC nor any state securities commission or regulatory authority approved, passed upon or endorsed the merits of any investment on the BotTrigger platform.

BotTrigger’s services do not constitute “crowdfunding” as described in Title III of the Jumpstart Our Business Startups Act (“JOBS Act”). BotTrigger does not accept any trading capital from Members or any respective parties with regards to BotTrigger's S-Corp under Lovical Inc & MomentumStockAlerts.com

Privacy Statement