ETHUSD - Go long, ride the wave
Updated
I believe in Elliott Waves, and this sure looks like the perfect entry for a 5th leg. I see excitement building for "the Flippening" and an overall worldwide interest building in crypto. I see any dips such as this, being viewed as an entry. Worldwide FOMO? It's a powerful thing, and it's the future of crypto.
I could actually see this 5th leg blowing right through my target zone.
I could actually see this 5th leg blowing right through my target zone.
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24 hours in, and point 2 is virtually identical to point 4 on the wave. So far I'm happy.Note
Random thought came to me. Fundamentals trump T/A every time, as much as we all love charts. Now you might think ETH has made a big move. And you might be thinking it's time to short. But here's a question: How many people do you think are dumping ETH to get back into fiat? Now how many people do you think are scrambling to get fiat into crypto any way they can? And waiting 2-3 weeks at exchanges for approvals etc.?Also, ETH is 1/10th the market cap of Facebook. A good-for-nothing online ad agency. Let that sink in for a minute.
My opinion: Shorts will get slaughtered.
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The 1-2 and 3-4 curves are absolutely identical....Note
Hmm...one botched ICO...a Gdax flash crash, and we've got some major FUD going on. Considering everything that occurred, I find ETH to have held up quite well to this point, as we are essentially even on entry. I'm still very bullish, normalcy will prevail soon enough.Note
Well....this Status ICO appears to have generated some widespread FUD...didn't see that coming. All T/A is out the window until we find a bottom and some normalcy. I don't sell when everyone else is, so relax, buy some dips and enjoy the sun. Crypto is the future, one bloodbath not about to change that.
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