Hello everyone,
If you are an ETH fan, you should be excited about the recent move up because that is really well and truly what ETH NEEDED. There is no more real support guys, if we go much further down, $70 is on the cards. There is just nothing holding it up.
I am still recommending that you hold off buying until the weekly ashi closes green. Overall, I think crypto in general is beginning to become bullish again. Why? Simply because I think the selling has been dropping off a ton.
We as good traders MUST remember that price is determined by some economic activity. The reason ETH has crashed so hard is because so many ICOs have been forced to sell to maintain some money. Read Ran Neuner's (spelling error maybe) twitter - he has been talking to people who have been forced to dump for a while. That's the beauty of crashes. Even whales - despite how smart they are - sometimes need to sell at the lows for security reasons. They probably don't sell a large portion of their wealth, but they NEED to secure their futures and at least sell a little. This is why the distribution of bitcoin has been becoming more and more spread out - everyone has a price at which they sell some.
Looks promising people!
-YoungShkreli
If you are an ETH fan, you should be excited about the recent move up because that is really well and truly what ETH NEEDED. There is no more real support guys, if we go much further down, $70 is on the cards. There is just nothing holding it up.
I am still recommending that you hold off buying until the weekly ashi closes green. Overall, I think crypto in general is beginning to become bullish again. Why? Simply because I think the selling has been dropping off a ton.
We as good traders MUST remember that price is determined by some economic activity. The reason ETH has crashed so hard is because so many ICOs have been forced to sell to maintain some money. Read Ran Neuner's (spelling error maybe) twitter - he has been talking to people who have been forced to dump for a while. That's the beauty of crashes. Even whales - despite how smart they are - sometimes need to sell at the lows for security reasons. They probably don't sell a large portion of their wealth, but they NEED to secure their futures and at least sell a little. This is why the distribution of bitcoin has been becoming more and more spread out - everyone has a price at which they sell some.
Looks promising people!
-YoungShkreli
Note
I just want to remind everyone that if this is the start of a bull market, you still need to remember not to bet more than you can afford to lose. Also, I do not know if the bottom is in, shit could get worse, it's just that I can potentially see it ending about now with the smoothing bottom going on in bitcoin.
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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.