ETHUSD: Momentum Bearish But Great Time To Accumulate.

ETHUSD update: This market has been relatively weak compared to the other major coins but that does not mean it has lost its long term merit. In fact, these are great prices for getting into a top coin that can be used especially for investing into much higher potential alts which are very cheap at the moment.

In this market, price has fallen through all major supports, broken below all the reversal zones, and is still restrained by a well defined bearish trend line. Momentum is still bearish and even though price action is attempting to recover along with the rest of the coins in this space, it will require some patience to work with. The 374 support level is one that goes back to the previous year that happens to be an old resistance / new support area and buyers have proven to be present there. The problem is since momentum is still generally bearish, this may just be another pause before testing lower prices. There is no way to know for sure.

Even in the face of such bearish momentum, I think this market offers a great opportunity to accumulate a top token that can be used to invest into other much higher potential alts. Which ones? You will have to visit S.C. to read about the ones that we like, but the question is when do you buy this coin? Just like in anything else, there is an aggressive way and a conservative way.

The aggressive way is more attractive IF you are flat. People that are just getting into the game now and missed out on all the pain have a chance to buy at extreme whole sale prices. Sure prices can go lower, but I think the bigger picture reward/risk is now biased to the bullish side. Even if you are in and holding from much higher prices, it will depend on your comfort level since you are taking pain already. Buying at these lows goes beyond technical analysis and is based more on the long term view of these markets in general. In my opinion, the lower this market goes, the more of an opportunity to accumulate and build a nice inventory.

The conservative way is to forfeit these low prices and look to buy after the bearish trend lines get taken out.The first trend line is around the 420 area. That scenario would signal that the bearish momentum is running out of steam. The second sign you can wait for is a close above 451 (.382 of recent bearish swing). The benefit you gain from waiting for these less attractive prices is that momentum is more likely on your side. Less pain, more gain. This is a better way to go if you have been sitting on a position and would like to wait for more favorable conditions to cost average further.

In summary, on a short term technical basis, this market does not look as stable as the others, but if you are looking to use this coin as a means to invest into others, then your timing does not have to be perfect. The best thing you can do is define your goals for this type of investment which will help shape your strategy as these markets eventually stabilize and make their way back. The least effective thing you can do is react to dramatic price action, or worse over exaggerated news which has no bearing on where these markets are going in the future. Success in these markets sums up to your appetite for risk. If you are afraid to lose, you open yourself up to a greater possibility of losing. If you can afford to lose and accept it, you open yourself up to a greater possibility of winning. In other words, scared money never wins.
bearishmomentumDouble Top or BottomEthereum (Cryptocurrency)ETHUSDlowerlowreversalSupport and Resistance

Try Trade Scanner Pro for FREE: bit.ly/TSCPRO

Free Signal Every Week: bit.ly/signalwk

My discord community: bit.ly/inviteme2

Trade Bybit: bit.ly/bybreg

Tip With ETH: 0x94c9338fc3A9Ba0F1F930BF4e724C0A3EBB8437E
Juga di:

Publikasi terkait

Pernyataan Penyangkalan