ethereum bottom convergence and buy marker revised

18 thg 3, 2018

I hated making this chart, My emotion kept me redrawing the lines, but in the end, I drew them as they should be, and this isn't pretty. If the RSI indicators are correct, the bounce could recover temporarily 15-20% before the fall to sub $200. If the recovery is lateral around the $400 mark, look for RSI confirmation and subsequent drop. A purchase at 400ish could still be profitable longer term, and the RSI supports this currently. However, think of it as a safety purchase, as the convergence is nearer the $200 marker on or around the 23rd. I currently hold a $600 position and will shore up and average when the $200 point approaches. I never purchase more than 0.1 ethereum due to wide gaps, long swings and sudden drops. I may just buy an entire ETH however, if it hits the convergence. My $600 position was for a purchase that I didn't go through with. I am highly motivated to repatriate my Fiat, but not at a loss. Because of the sharp decline in ETH compared to the modest decline in BTC, I may just convert some BTC to ETH and then convert back on the first spy hop ETH makes above the RSI high line indicator. This trade actually excites me due to the potential profitability and uncertainty.