This is a core holding in most traders portfolio. The recent increase to $380 may have people thinking this is a top? But we do not trade in US dollars we trade in BTC's. This is not different then trading gold in USD or EUD. We must keep it relative and ignore outside data. Cryptos trade in BTC not USD or EUD. This chart explains why we really were consolidating and ETH is not overpriced but getting ready to run higher. I look at my coinbase account and i'm like wow i'm up should I sell? Well it only took me to pull up the graph to realize I couldn't be more wrong. So what am I doing? I'm adding to the position. With that said, I understand the USD is a factor, so I am looking for a double top which is very typical of cryptos. My T1 is the level of Wave 3 which is allowed in EW. It does not break the rules. I am will sell half of my non-core holdings at this point. Good luck in the pits today!!! Cheers.
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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.