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Etherium

Crypto Correlation - Etherium - BitcoinI posted an idea yesterday on the Accumulation phase of Bitcoin currently. I have been asked by several people in the post and in DM's about Etherium, Litecoin and other alt coins. Thought it be easier to make a post. As professional traders enter the crypto market - it's clear to see a shift in the behavior of Bitcoin and its merry men. If you zoom out and look at the daily charts or bigger, it's clear to see the dips and peaks at the same times - meaning BTC is a good indication of the rest of the coins... Why? - Bitcoin is mainly a store of value, it's making entry into other alt coins easier - it's more trusted (i would like to say it's more understood, unfortunately not the case). You have several types of crypto players: - Early adopters (usually tech guys n Gals) who believe in the concept and want to change conventional thinking. - Consultants (usaully ex KPMG, PWC) will call themselves experts, charge the early adopters thousands in fees for their business acumen & adding no real value. - un-sophisticated investors; wanting to invest in the next facebook. - Friends of early adaptors who now see $$$ signs. - Tech investors who see more than a trade setup. - Savvy investors who want control (these guys take it to "investment instrument level" - Then the late adapters - who want to play, make a few dollars, and hope to ride the bull wave to the moon. - Everyone else. The issue is the more institutional traction, the less likely of a full out bull run - investors know how to play the game to sucker the other parties into making more money for themselves in the process. So we will now start to see behavior more like Gold, Oil, FX - instead of the tech boom bull runs. As traders, not investors - you need to adapt. If you are not looking for a drawdown, you need to buy the dips. Whereas an investor would pile in the money and come back in 5 years. As far as Etherium, Bitcoin or alt coins. Think of it like this. Bitcoin is kind of what the USD is to currency and commodities. An easier way of putting it is "Bitcoin is the windows of the operating system space" - Ethereum is like Linux - it can be used for projects, not everyone understands it or wants to. It has its place and that has value in its own right. Feel free to comment below. Enjoy the rest of the weekend! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FOREXCOM:ETHUSDEducation
by Mayfair_Ventures
3
Warning! ETHUSDT Next Move Hello, dear subscribers! Today we are going to consider two possible scenarios for the Ethereum. Background The ascending triangle was broken through and the price found the resistance at the $1290 price level. After that the price bounced off this level and broke down the trendline support. The price drop was until the support level of ascending triangle higher band was reached. The next step was the attempt to re-enter above the trendline but there was a rejection. As a result now we have two possible scenarios. Scenario 1 If the price be able to find support above the resistance line and re-enter above the trendline, we can see a massive price growth. Scenario 2 This is a negative scenario. If the price break down the support line we can see the price drop to the CPR level, because this is the most powerful support level below the current support.
by Skyrexio
1