As I wrote in my ETH article on S.C. earlier today, 625 is the .382 area of the current structure. As long as price stays below this level, it is more likely to consolidate or test lower prices.
Long term, I am on this market as well as the other major coins. It is at times like this when it is important to also recognize the short term price action since it is very helpful for staying out of trouble.
Based on the current structure, there is no reason to do anything at these levels. I am not going to add to any long term inventory, or take any short term trades. Like I wrote earlier, there is no advantage to taking any risk at these levels. I do not short these markets, so I can only consider risk from the long side.
At S.C., we are waiting to see IF these markets choose to retest the lows. The high probability level for us is the low 500's into the 471 reversal zone boundary. Remember, we do not know if price will retest this area, but we are prepared if the opportunity materializes. We don't predict, we play probabilities.
In summary, quiet times in the market are great times to prepare. Research other coins, check out our portfolios at S.C. and see how we are building inventory. When the market offers more attractive prices, we are prepared with a plan. What is your plan?
one ICO I am into and of which I HODL a small number of coins is the Cyber Smart Coin (CBST), which is having a Token Giveaway.
Cyber Smart Coin (CBST) is a crypto currency that uses Deep Learning + Artificial Intelligence in combination, to improve smart Trading bots with disruptive Blockchain technology.
The system is built to deliver very reasonable, even strong Monthly Dividends. If you are interested in Trading related crypto coins, this is a great coin even at regular prices.
Right now, you can get Cyber Smart Coins at very reasonable rates during their current ICO.
And, if you Register for tokens from now through June 3, you will receive 150 coin Giveaway from Cyber Smart Coin :)
You can learn more about the CBST Tokens here:
You can also read the details of a great use case of the Cyber Smart Coin at https://cybersmartdefence.com The software solution uses the CBST coin to empower and increase the utility and value of its innovative blockchain-driven cybersecurity system.
i think now is a great time to pick up some great undervalued alt coins, precisely because the overall cryptocurrency market is at a steep discount compared to the high prices the market saw in December and January.