Hello all,
A few months ago, I wrote an article about how I was expecting ETH to go back to the high levels of summer 2017. It did that and more. That was a key level and for the first drop in April, it held.
Fast forward a few months and we broke that level, that is very bearish, but it is completely reasonable. People must understand that just in 2017, ETH was trading for under $10. A drawback to any three digit number, even $100 is completely reasonable for 2018 and indeed perhaps in 2019 if this bear market isn't over.
That said, we are at key support in ETH and I am suspecting that it will be good for a bounce to around $350 which was our former area of support which is now resistance.
Good luck!
Follow me on Twitter for more golden nuggets of information.
-YoungShkreli
PS I do not trade ETH generally, only bitcoin and its derivatives with leverage, however, I am planning to make a bullish trade on ETH in the coming weeks because I believe there will be a chance to double my bitcoin stack.
A few months ago, I wrote an article about how I was expecting ETH to go back to the high levels of summer 2017. It did that and more. That was a key level and for the first drop in April, it held.
Fast forward a few months and we broke that level, that is very bearish, but it is completely reasonable. People must understand that just in 2017, ETH was trading for under $10. A drawback to any three digit number, even $100 is completely reasonable for 2018 and indeed perhaps in 2019 if this bear market isn't over.
That said, we are at key support in ETH and I am suspecting that it will be good for a bounce to around $350 which was our former area of support which is now resistance.
Good luck!
Follow me on Twitter for more golden nuggets of information.
-YoungShkreli
PS I do not trade ETH generally, only bitcoin and its derivatives with leverage, however, I am planning to make a bullish trade on ETH in the coming weeks because I believe there will be a chance to double my bitcoin stack.
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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.