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idontknowwhat
May 16, 2019 6:15 AM

I see ETH going to $550 (watch for pullback) Long

Ethereum / DollarBitfinex

Description

We have our reversal signal, golden cross on weekly EMAs (10/21) is also incoming. A basic retrace would suggest a $560 target based on the fib level. I would also take some profits at the first fib level ($350) just incase. But other than that, I would say risk reward is decent here, a potential 100% profit. As for the stops, this is highly subjective. If it is too tight, you might get wiped out on the pullback, if it is too loose, you may end up risking a lot of money. I've been holding since the bottom, so am just watching for changes in fundamentals. As long as the fundamentals don't change, I will keep holding.

For those who are nervous, I would suggest buying after a pullback.
Comments
areyousrs
Jack, you mention a pullback but are you expecting it now, or at $350?
KTAS
i'm nervous, hold me Jack
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