Update on Ether/Crypto

The hand-full of trend-lines on 15 minute and 1 hour charts along with the dozens of indicators I see out there is a waste of time and mental energy (and also shows the inexperience of most traders). No one knows where the bottom will be and those useless indicators WILL NOT HELP in that discovery. Simplify the analysis by only looking at the extreme levels and look for opportunities in other markets. While crypto remains in stagnate territory there will be a market to ride elsewhere - that is how markets work. Big trends turn into long term consolidations. If the long term chart (daily/weekly) presents massive chop (consolidation) don't you suppose the intra-day charts might chop you out as well?

تعليق:

I think eth approaches the 100 level and bounces up from there

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Hit the buy zone at 100.50

FYI I am not taking action on this trade. I do however hold some BTC ... but prefer seeing lower prices

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strong bounce off buy zone. i expect a continued move higher

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$110 is next. If that does not hold then new lows are coming (break under December 2018 low)

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14 months later and the price of Ether remains range-bound at the levels drawn above

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We're now at 18 months since posting this and it is STILL valid. For this reason, I have not posted much at all on crypto. It remains in heavy consolidation and an opportunity cost for other trades.

Please comment if you're interested in my crypto thoughts and I'd be happy to publish something new. Thank you

تعليق:

ETH is at 301 (at the time of writing) - this is the third time it is above my false breakout risk zone.

I view this as a real breakout and no longer false.

The consolidation lasted a year in a half. Eth will likely form a new range. 350 is next.