ETH - It was Like Watching Paint Dry!
Having a position in ETH' over the past few months was like watching paint dry as BTC', BCH', Dash', and XMR' along with several others were soaring to new highs. Believe me, the past week it took everything to hold me back from liquidating the ETH' and LTC' positions and going all in on BTC'. I was tempted as I'm sure many of you were. But as a long term investor I have learned from past experiences that the emotion of "impulse" has often led to missing out on gains or actual losses as I buy into a hot stock selling a flat one only to watch the flat one take off and the hot stock pullback.
Well ETH' has finally left the station and appears to be full steam ahead. On Nov 23rd we posted a chart with a target level of $458-$482. It actually hit our target level and consolidated nicely in the channel with a short lived spike that surged past $500 temporarily before pulling back and testing the previous resistance line where it found support. After completing an ABC' correction is it quickly retesting the previous resistance level. In my opinion this is a bullish sign and I will trade a breakout. I have updated the chart from Nov 23rd with revised target levels.
As we enter a "brave new world" of cryptos, Ethereum' has many more applications than just being a peer to peer means of barter/exchange, and much less competition. Bitcoin competes with a number of coins. Contract based payment systems and the applications for them are endless and this is truly and internet of things play moving forward.
Before I get 30 contract based coins that are in development, many I already own, most if not all all speculative at this point and do not have the market penetration ETH' does. ETH' has a working product and market penetration. Many alt coins use the platform as well. First to market advantage!
Well ETH' has finally left the station and appears to be full steam ahead. On Nov 23rd we posted a chart with a target level of $458-$482. It actually hit our target level and consolidated nicely in the channel with a short lived spike that surged past $500 temporarily before pulling back and testing the previous resistance line where it found support. After completing an ABC' correction is it quickly retesting the previous resistance level. In my opinion this is a bullish sign and I will trade a breakout. I have updated the chart from Nov 23rd with revised target levels.
As we enter a "brave new world" of cryptos, Ethereum' has many more applications than just being a peer to peer means of barter/exchange, and much less competition. Bitcoin competes with a number of coins. Contract based payment systems and the applications for them are endless and this is truly and internet of things play moving forward.
Before I get 30 contract based coins that are in development, many I already own, most if not all all speculative at this point and do not have the market penetration ETH' does. ETH' has a working product and market penetration. Many alt coins use the platform as well. First to market advantage!
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