TheBigNova
Panjang

ETH train left the station - don't try to jump on it!

COINBASE:ETHUSD   Ethereum / Dolar
Amazing day for Ethereum             , very strong uptrend so far!
The old ATH             at 400 is just a memory, next target at 440 was hit very easily, and the last of my targets at 480 was touched briefly.

While this is awesome, again a warning, be very careful here.
We have a spychological target at 500 USD - that is a round number, it's likely with the current volume that this target will be hit and maybe will go quickly above it.
But I fear that afterwards it will go down very abruptly, all those big buyers will want to take some significant profits.

Eth is now in the stratosfere. There is nothing here. No support, no resistance. No TA can work. I can see targets above 500 USD of course, but there is no base for that.
At this moment, predicting ETH is pure speculation. All these long green candles are not sustainanble.

So my advice to you is:
1. if you are a long term holder and you don't care about the price, just enjoy the show.
2. if you're trading this and you want to take some profits, calculate your % reward and take it, otherwise you can up your stoploss to below 440 USD.
3. if you are not in ETH, stay away, don't try to jump on the running train, you are asking for trouble. Your risk is huge at this level. If they do a sell off, the price can go back to 350 USD very easily.
4. Around 350 USD could be a possible speculative entry.

I hope this helps. If questions, let me know!



Finally a non-idiotic post.
Balas
@strrmx, thanks!
Balas
Thanks for your words, this is exactly what I am feeling. But it's hard to stay away...sometimes you have to be reasonable though ;-)
Balas
imocchi NadineStoll
@NadineStoll, If you are waiting for a new train, BCH should pump in a couple of days (a normal pump and dump before big news such as Bitstamp listing) and dump to around 1400 area. I am currently on ETH, but can't wait for BCH train :) so far I quadrupled my money with BCH this month, seems fun if you play safely

as for ETH I doubt it can go below 400, people are waiting for Casper news and a huuuge pump
Balas
TheBigNova imocchi
@imocchi, congrats on making profits on BCH, you're probably among the lucky ones. My strategy on BCH is to avoid it completely. As you say, it's a pump and dump coin, chances are very high that by the next trade, the price can go against you. Unless you are the one to do the pump and dump, there is 0 control and very little TA on such coins.
Balas
TheBigNova NadineStoll
@NadineStoll, you're welcome! yes, I know it's hard to stay away, but sometimes safer. :)
Balas
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