For risk management, I like to take a step back to view the big picture. That means zoom the :heart: out, see the asset's multi year performance.
Atm, ETH is in a bull channel at least since 07-2020, chasing ATHs.
- currently we're at 4.735, which is a minor drop from last ATH
- bottom of current bull channel 2.990, a drop to this point would still not invalidate bullish perspectives in mid timeframe
- top area of bull channel between 7k - 10k: I would start to take profits if we came here today. everything below is still a buy
- long term baseline bottom would currently be at 1.230, taking into account that a decline to this baseline still takes some time I'd see absolute bottom for ETH from now at 1.750
Have fun trading. Thank you for a "like".
_____
Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes.
Never put your heart and your money in the same place.
You could end up with your balance getting f***** while you're doing the hard work.
Atm, ETH is in a bull channel at least since 07-2020, chasing ATHs.
- currently we're at 4.735, which is a minor drop from last ATH
- bottom of current bull channel 2.990, a drop to this point would still not invalidate bullish perspectives in mid timeframe
- top area of bull channel between 7k - 10k: I would start to take profits if we came here today. everything below is still a buy
- long term baseline bottom would currently be at 1.230, taking into account that a decline to this baseline still takes some time I'd see absolute bottom for ETH from now at 1.750
Have fun trading. Thank you for a "like".
_____
Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes.
Never put your heart and your money in the same place.
You could end up with your balance getting f***** while you're doing the hard work.