Hello all,
As you may know, I've been eyeing a trade in the ETHBTC pair for quite some time now. This said, I feel no urgency to jump in this trade. I am calm. I am patient.
It is important that you develop a strategy and stick by it religiously. I am very excited to jump into this trade when it is ready, but I must wait. The markets are the means by which money is transferred from the impatient to the patient.
It will be at least a week until I jump into this trade, likely two or more, but the day will come.
The one thing I wanted to talk to you all about today in terms of the actual market and not the chart is an article published by Bitmex Research that found that most of the ICOs have sold the majority of their coins. This is very good. ICOs raised hundreds of millions of dollars and therefore sold hundreds of millions of dollars to hold on to profits. This has noticeably caused ETH to fall very hard against BTC despite them both being in the same bear market and highly correlated.
If ETH can hold these levels and bounce, that would be very bullish for ETH. It is possible that we may be able to form concrete support about the $70 level. I mention the dollar figure because a drop from here to $70 is more substantial than BTC falling to $5,000 which are the next support levels. Be on the lookout for my work on this trade because this is a trade I am expecting to double my BTC trading account WITHOUT leverage.
Good luck everyone,
-YoungShkreli
As you may know, I've been eyeing a trade in the ETHBTC pair for quite some time now. This said, I feel no urgency to jump in this trade. I am calm. I am patient.
It is important that you develop a strategy and stick by it religiously. I am very excited to jump into this trade when it is ready, but I must wait. The markets are the means by which money is transferred from the impatient to the patient.
It will be at least a week until I jump into this trade, likely two or more, but the day will come.
The one thing I wanted to talk to you all about today in terms of the actual market and not the chart is an article published by Bitmex Research that found that most of the ICOs have sold the majority of their coins. This is very good. ICOs raised hundreds of millions of dollars and therefore sold hundreds of millions of dollars to hold on to profits. This has noticeably caused ETH to fall very hard against BTC despite them both being in the same bear market and highly correlated.
If ETH can hold these levels and bounce, that would be very bullish for ETH. It is possible that we may be able to form concrete support about the $70 level. I mention the dollar figure because a drop from here to $70 is more substantial than BTC falling to $5,000 which are the next support levels. Be on the lookout for my work on this trade because this is a trade I am expecting to double my BTC trading account WITHOUT leverage.
Good luck everyone,
-YoungShkreli
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.