Ethereum: Strong emerging uptrend/bubble

15 août 2015

I wouldn't know about the fundamentals, but what I do know is that the Ethereum market is trading with very high volume, and that the ETHBTC chart looks really bullish.
Sadly I can't publish my chart here, since Tradingview doesn't include Poloniex in the list of Bitcoin exchanges it offers.
After they introduced margin trading and lending, they became hugely popular, and ethereum trading is concentrated there.
In the ETHEUR chart we can observe similar price behavior to ETHBTC, but we have yet to see a new mode higher.
The mode has been the accumulation zone near the lowest low, which is typical for these instruments, high volume and time spent at price in a small range. 'Smart money' buying in.
I invested on this altcoin, I'll be monitoring it closely to decide when to sell. For now, I'm lending while holding my coins and building a larger position.
My levels and targets for ETHBTC are as follows:
-Bearish below 0.00564299
-Building a new mode at 0.00689976
-If we see further accumulation and a range expansion bar out of this zone, we can aim for 0.012 BTC per coin, roughly.
My expectations are of an even bigger rally, but this is what I can obtain from the chart as is.
Good luck!
Ivan.