My style is to wait until prices are so low it becomes a low-risk high reward opportunity. ETH, LTC, XRP, NEO, BNB are getting to that point. Let me put it this way by the time I jump in 100% into alts is not even worth putting a stop loss because they can't go any lower. On most of these alts we are only at the beginning of the death cross on the daily, which means that we have some way to go still. I have been saying for a long while that I expect most high performing alts to hit a double bottom and that's what I am waiting for. What if they don't? What if we have a violent move up? Even better, then we'll catch them on the pullback and ride the wave up. In my way of trading, we are now at a hard to lose point. If we go down more, then we buy more and if we go up then we buy on the pullback once we have confirmation.
So what is Ethereum doing? Basically kicking the ground waiting for instructions from BTC . Ethereum will continue to move down as long as BTC continues to more down. It will only move up as high as the 200 Day moving average if at that which will be at around $208.00. So, for now, expect ETH to keep going south looking for the possible juicy double bottom . If it hits $165.00 I would buy a little and if it double bottoms I would buy a good amount.
NOW, THE LEGEND;
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going down
THE OUTLOOK: Buy as it dips andbuy more the closer we get to $100.00
Be safe and follow me to make money and stay ahead of the curve.
Xena Exchange Resident https://xena.exchange
Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality.