I think it's time to jump back into altcoins or at least $ETH which the chart shows a great buying opportunity, both on ETHBTC and ETHUSD chart.
If you take a look at the chart on 4 hour time frame (4h charts works well most of the time in crypto space especially when both RSI and MACD is at a low level). ETHBTC 4h makes me want to switch BTC to ETH, another reason I decided to do so is the rising wedge pattern completion point on ETHUSD 4h chart.
***THIS IS NOT AN ADVISE, I AM NOT YOUR FINANCIAL ADVISER!***
If you take a look at the chart on 4 hour time frame (4h charts works well most of the time in crypto space especially when both RSI and MACD is at a low level). ETHBTC 4h makes me want to switch BTC to ETH, another reason I decided to do so is the rising wedge pattern completion point on ETHUSD 4h chart.
***THIS IS NOT AN ADVISE, I AM NOT YOUR FINANCIAL ADVISER!***
Comment:
Originally I was targeting 0.068 as the red arrow shows but I doubt the target would be hit. Timing the market is difficult, I am accumulating ETH here even if there's still possibility it would go down a bit more, as I always said, trading is just a game of Risk-Reward. As of now, the Risk-Reward favors the bull side of the trade.
Trade active
Trade active:
Almost there and I am now averaging in
Trade closed: target reached:
Bear move is complete, now time for bull move.
The data shows ETH(42.9%) while BTC(10.6%), could be people loading $ETH bags here.
bitinfocharts.com/cr...currency-charts.html