ETHUSD C&H Formation possible for $540 Target
If ETHUSD maintains the current and slightly higher level in the $340-360 range until the 1st of September, 2017, there is a possibility that we'll have seen a Cup and Handle formation, pointing at a target around $540 by mid to late Sept.
However, if ETHUSD falls through the ichomoku support cloud (unlikely based on my current analysis), it could lose 50% of it's value.
Risk is around 50% loss (low likelyhood?) and potential for 60-75% in gains (higher likelihood).
If you're considering ETHUSD over BTCUSD, consider that BTCUSD may increase to $5000 by the end of August. Where it goes after that, who knows, but it could signal an even larger increase due to hitting the $5000 target and FOMO. ETHUSD may not see it's increase until Sept 1st, after Bitcoin has broken through the $5000 mark. It's very likely that a bitcoin ATH of $5000 will spur a frenzy buy of Bitcoin for a push towards $6000 and the natural result is that ETHUSD will likely also be purchased in hopes to see similar results throughout September and beyond.
Buy BTCUSD today, within 2 weeks either keep it in BTC or convert it to ETHUSD and follow the upward trend with ETHUSD while BTCUSD goes through a mild correction period.
However, if ETHUSD falls through the ichomoku support cloud (unlikely based on my current analysis), it could lose 50% of it's value.
Risk is around 50% loss (low likelyhood?) and potential for 60-75% in gains (higher likelihood).
If you're considering ETHUSD over BTCUSD, consider that BTCUSD may increase to $5000 by the end of August. Where it goes after that, who knows, but it could signal an even larger increase due to hitting the $5000 target and FOMO. ETHUSD may not see it's increase until Sept 1st, after Bitcoin has broken through the $5000 mark. It's very likely that a bitcoin ATH of $5000 will spur a frenzy buy of Bitcoin for a push towards $6000 and the natural result is that ETHUSD will likely also be purchased in hopes to see similar results throughout September and beyond.
Buy BTCUSD today, within 2 weeks either keep it in BTC or convert it to ETHUSD and follow the upward trend with ETHUSD while BTCUSD goes through a mild correction period.
Another position to consider is to watch and see if ETH happens to crash sometime between now and the 15th of next month, then consider picking it up at half price or lower and wait for more positive movement and the likelihood of doubling your money within another 30-45 days.