Etherium possible scenario
Bitcoin has shown weakness and etherium shows more weakness
It seems fractal from 2017 july comes again. High possibility for ETH to go below 450 usd in days. There can be one-to-one correlated points with 2017 july chart but since move is almost finished, it won't be necessary.
So one strategy from now on is buying at green line and sell at orange line. Green line is previous highs and orange line is resistance which is likely to be reached. You can call orange line whatever you like such as 4th of EW or fib level etc...
If you are holding, don't panic. If you are day trader who bought at wrong price, don't panic either. Wrong is always part of the game and best way to react to it is embrace the situation and react to it. The only thing I trust in charts and mass psychology is mean reversion. By experience, price will someday rise and test blue trend line to say the least. and probably some day 800 usd level.
What I can't predict is exact number of orange and green line and I admit it. Its always open interpretation.
Have a nice day
It seems fractal from 2017 july comes again. High possibility for ETH to go below 450 usd in days. There can be one-to-one correlated points with 2017 july chart but since move is almost finished, it won't be necessary.
So one strategy from now on is buying at green line and sell at orange line. Green line is previous highs and orange line is resistance which is likely to be reached. You can call orange line whatever you like such as 4th of EW or fib level etc...
If you are holding, don't panic. If you are day trader who bought at wrong price, don't panic either. Wrong is always part of the game and best way to react to it is embrace the situation and react to it. The only thing I trust in charts and mass psychology is mean reversion. By experience, price will someday rise and test blue trend line to say the least. and probably some day 800 usd level.
What I can't predict is exact number of orange and green line and I admit it. Its always open interpretation.
Have a nice day
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