Did We Just Turn Bearish?
NO... ETH has nearly doubled since Dec 15th. A 20 to 30 percent pullback is normal and healthy. Because we Dollar-Cost-Average in all trades we do not fear a retracement in price, instead, we see price action as an opportunity. I think if we can hit the $140, maybe $145 level, I will pick up a piece here and there.
Outlook: Neutral to Bullish (More range trading ahead)
It seems like we are in a holding pattern for news. I don't know that to be certain but it seems that way. I hope you all we buying small amounts as I was at the lower price levels. History has taught us that a lot of build up happens before a hard fork and then a letdown and severe profit taking occurs. Crypto trading is a very emotional game and therefore we stand strong with our convictions looking for strategic buying levels and committing to an entry price.
If you follow my trading style you will have noticed we tend to travel along a Primary trend. When it becomes breached we use it as a reference. If we move too far away from it we seek normal support and resistance levels and fib levels for guidance until another Primary trend can be determined and we rinse and repeat this cycle as it closely mimics the emotional trading we find in cryptos.
Hold strong and hold long and with a little luck and some good TA we can pull out 20 percent+ in profit here and there and hold a bunch for free. ( I am holding some for free now and letting it ride, but always looking for another entry at the right price.)**
Best,
Biff
** Holding for free means letting my profits ride.
Outlook: Neutral to Bullish (More range trading ahead)
It seems like we are in a holding pattern for news. I don't know that to be certain but it seems that way. I hope you all we buying small amounts as I was at the lower price levels. History has taught us that a lot of build up happens before a hard fork and then a letdown and severe profit taking occurs. Crypto trading is a very emotional game and therefore we stand strong with our convictions looking for strategic buying levels and committing to an entry price.
If you follow my trading style you will have noticed we tend to travel along a Primary trend. When it becomes breached we use it as a reference. If we move too far away from it we seek normal support and resistance levels and fib levels for guidance until another Primary trend can be determined and we rinse and repeat this cycle as it closely mimics the emotional trading we find in cryptos.
Hold strong and hold long and with a little luck and some good TA we can pull out 20 percent+ in profit here and there and hold a bunch for free. ( I am holding some for free now and letting it ride, but always looking for another entry at the right price.)**
Best,
Biff
** Holding for free means letting my profits ride.
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