ETHUSD looks over bought
I think ETHUSD needs a healthy retracement before it pushes higher.
Don't panic if ETH sells off by 30%.
The signals have found consensus around ETH being over bought.
Full disclose, i own ETH and despite my view that it should correct over the next 2 - 3 weeks, I'm not going to sell out or reduce my exposure. This is partially due to the tax consequences of the South African jurisdiction and partly due to the fact that you can't go wrong with a buy and hold despite the short term noise.
Please like and follow for daily posts on various asset classes. Please also share your views on the trading ideas and whether or not you find them to be of any value to you as a trader.
Please note that cryptocurrencies are speculative assets which carry a very high degree of risk and any speculation in such assets can result in a complete loss of capital. This idea is shared for educational purposes only and should not result in speculative decisions in any digital asset.
Don't panic if ETH sells off by 30%.
The signals have found consensus around ETH being over bought.
Full disclose, i own ETH and despite my view that it should correct over the next 2 - 3 weeks, I'm not going to sell out or reduce my exposure. This is partially due to the tax consequences of the South African jurisdiction and partly due to the fact that you can't go wrong with a buy and hold despite the short term noise.
Please like and follow for daily posts on various asset classes. Please also share your views on the trading ideas and whether or not you find them to be of any value to you as a trader.
Please note that cryptocurrencies are speculative assets which carry a very high degree of risk and any speculation in such assets can result in a complete loss of capital. This idea is shared for educational purposes only and should not result in speculative decisions in any digital asset.
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