ETH potential long levels
I have mentioned a few times that ETH is my favourite fundamental pick in the complex. I wouldn't pretend to know details about the technologies, but the resilience of ETHUSD in the latest selloff further boosts my conviction. Presenting some chart analysis here.
There is a new significant zone emerging at the 735-740 level. I would stay flat below that level in order to preserve capital. I still place value in the 755 level which was the last PoC, would get half long above that and add to it on a breakout of the 775 level. It can be quite difficult to be patient to buy at a higher level, but that is the key to capital preservation imho. Should the complex sell off further, even the strongest tickers will follow lower. The key is to wait for the market to stabilize, and then get behind the strongest of the bunch.
“Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
There is a new significant zone emerging at the 735-740 level. I would stay flat below that level in order to preserve capital. I still place value in the 755 level which was the last PoC, would get half long above that and add to it on a breakout of the 775 level. It can be quite difficult to be patient to buy at a higher level, but that is the key to capital preservation imho. Should the complex sell off further, even the strongest tickers will follow lower. The key is to wait for the market to stabilize, and then get behind the strongest of the bunch.
“Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
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