Cryptocurrencies have a entered multi-month correction
The Cryptocurrencies had a spectacular run in the last couple of months. But since mid of June they all moved into a rather nasty correction. Bitcoin went below 2,000 USD already while Ethereum lost more than 65% in six weeks. Yet they are oversold and getting interesting again.
I have been buying IOTA over the last couple of days. It´s up 52% today :-) ! As well I continue to like DASH and STEEM and I have been buying into recent weakness. However it is rather difficult to come up with a decent risk/reward-ratio at the moment. There is no need to rush.
Overall the cryptocurrencies have very likely moved into a multi-month correction. So you will need to have a lot of patience and must be very careful with your buying orders. I don't think that the bubble has burst instead this is just another healthy and necessary correction within this great crypto bull market. But it will take time. Most of the weekly charts are not yet oversold. So there is more downside or at least sideways action to expect.
Buy BITCOIN below 1.800 USD, Stop loss 950 USD
Buy DASH below 120.00 USD, no stop
Buy STEEM below 1.00 USD, no stop
Timeframe 6-12 months
Don´t put more than a maximum of 5% of your networth into cryptocurrencies and only use money you can afford to loose.
I have been buying IOTA over the last couple of days. It´s up 52% today :-) ! As well I continue to like DASH and STEEM and I have been buying into recent weakness. However it is rather difficult to come up with a decent risk/reward-ratio at the moment. There is no need to rush.
Overall the cryptocurrencies have very likely moved into a multi-month correction. So you will need to have a lot of patience and must be very careful with your buying orders. I don't think that the bubble has burst instead this is just another healthy and necessary correction within this great crypto bull market. But it will take time. Most of the weekly charts are not yet oversold. So there is more downside or at least sideways action to expect.
Buy BITCOIN below 1.800 USD, Stop loss 950 USD
Buy DASH below 120.00 USD, no stop
Buy STEEM below 1.00 USD, no stop
Timeframe 6-12 months
Don´t put more than a maximum of 5% of your networth into cryptocurrencies and only use money you can afford to loose.
Komen:
Komen:
Well overall this analysis was obviously wrong. Instead of a multi month correction/consolidation cryptos just continue to move higher...
No sign of an end as of now.. but we´re move more and more into a bubble. I read about many people giving up their jobs to start trading cryptos instead.. I guess we have a couple more months at best before a nasty crash will wipe out most of these amateur traders and investors
No sign of an end as of now.. but we´re move more and more into a bubble. I read about many people giving up their jobs to start trading cryptos instead.. I guess we have a couple more months at best before a nasty crash will wipe out most of these amateur traders and investors
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