I'm not sure if you were around when ETH made a double top around $400 but I do remember it like it was yesterday.
At that point, a friend bought it nearly at the second double top price. Just a few dollars below that.
He did not listen and as a novice "crypto investor" he wanted to be smarter then experienced ones and even than the market itself.
Traders that have been around for some time know that it's the riskiest to buy just before the breakout happens unless you have really solid ground and knowledge about why you are so sure it will.
By solid, I don't mean "BTC went to ATH, so ETH will do it now also". It did not! At some point, he and his portfolio were down. Emotionally and financially.
At least he did listen and did not sell at the bottom but he waited for some months before ETH broke $400 mark and for him to finally be in the profit zone.
He bought high and nearly sold low. Instead of buying low and selling high.
Right now ETH is relatively low. I wrote about that in the "Catch short term potential on ETH!" post that you can find in the links to related ideas bellow.
This post is more about midterm potential. Maybe 70% is not much for somebody but if we do compare that to other financial markets it's great for a few weeks. Even for a few months.
And the beauty is that you can buy it, put automatic sell order on the next strong resistance if you are happy with that profit target and forget about it. Financially and emotionally.
As you can see there is a nice cup and handle pattern forming. It's should take us really close to that $400 resistance again.
However, it all depends on what game you are playing but if you devote some funds to short-term play, others to midterm gain and leave the rest for longterm potential your emotional wellness can be well served.
At the end of the game, health is more important than money and going thru the same stress as my friend did is for sure not good for your energy and well being. Sometimes even the close ones can get sick of you being under the stress all the time. You might get a bit more money but you might lose something even more precious. Is it worth it?
PS: It's just an idea. It's not investment advice!
At that point, a friend bought it nearly at the second double top price. Just a few dollars below that.
He did not listen and as a novice "crypto investor" he wanted to be smarter then experienced ones and even than the market itself.
Traders that have been around for some time know that it's the riskiest to buy just before the breakout happens unless you have really solid ground and knowledge about why you are so sure it will.
By solid, I don't mean "BTC went to ATH, so ETH will do it now also". It did not! At some point, he and his portfolio were down. Emotionally and financially.
At least he did listen and did not sell at the bottom but he waited for some months before ETH broke $400 mark and for him to finally be in the profit zone.
He bought high and nearly sold low. Instead of buying low and selling high.
Right now ETH is relatively low. I wrote about that in the "Catch short term potential on ETH!" post that you can find in the links to related ideas bellow.
This post is more about midterm potential. Maybe 70% is not much for somebody but if we do compare that to other financial markets it's great for a few weeks. Even for a few months.
And the beauty is that you can buy it, put automatic sell order on the next strong resistance if you are happy with that profit target and forget about it. Financially and emotionally.
As you can see there is a nice cup and handle pattern forming. It's should take us really close to that $400 resistance again.
However, it all depends on what game you are playing but if you devote some funds to short-term play, others to midterm gain and leave the rest for longterm potential your emotional wellness can be well served.
At the end of the game, health is more important than money and going thru the same stress as my friend did is for sure not good for your energy and well being. Sometimes even the close ones can get sick of you being under the stress all the time. You might get a bit more money but you might lose something even more precious. Is it worth it?
PS: It's just an idea. It's not investment advice!
Comment:
Imagine we are in May 2019. ETH price is $171.
Where would you think this thing is going after seeing the price action as presented?
Comment:
Now we are in August 2019. ETH price is $233.
How far do you think we can go?
Comment:
Here are some additional projections that might not sound that optimistic anymore.
Now the question is in what timeframes!?
