Predicting ETH $720 by the 4th of July. Ethereum Technical Analysis and News Reports.

in #ethereum6 years ago (edited)

Many are saying that Ethereum Not Bitcoin, will lead the charge on the next Bull Run so lets have a look...

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The RSI is indicating that we were oversold not long ago and seem to be approaching oversold again. As for the moving averages, it seems like if the price moves down a bit more then spikes up we might get a Golden Cross in about 2 weeks. I know that $720 ETH is not the greatest news, but in the market, during this bear cycle it sounds good to me. Now obviously I do not have a crystal ball but I predict that we will first see some sell side action bringing ETH down to $300-$340 before seeing some buy side action taking us to up to $720 and I think this will all play out over a two and a half week period. I think Bitcoin will see $5550 as well, I think that before we show any growth what so ever, we first need to break down below our current bottom of $5850. Lets not forget that one year ago from today, BTC was $1809 and ETH was $134.78. From those very numbers prices to the large numbers we see today, and we have the nerve to want more out of them. Bitcoin and Ethereum over 200% gains in a year and we are calling this a bear market, if this was the New York Stock Exchange people would be praising BTC and ETH for their gains, but with Crypto we have gotten used to thousand percent gains and look upon anything less like it is some kind of short coming. Its like when a A student gets a B on a paper and there parents start telling them that they will be gas station attendants and burger flippers in the future. These investors are acting like the pageant parents and they need to relax, markets work in cycles and this cycle needs to play out.
Look I have said this many times, the market will have its ups and downs, but if you sell low, you are selling the things that you bought at a discount. You are buying high to selling low, all that does is make you poor and someone else rich, don't sell what you own at a discount to the rich people. Crypto is going to be the way all of us middle class people take back the wealth that was stolen by the super rich, but we can't do it if we fall for their tricks, we can't take it back if we fold at the first sign of trouble, then run back with out tail between our legs. It is one thing to play the game and try to play the market, buying and selling, but it is another to just sell out when you get scared, times like this are when the weak hands fold and the strong hand prove they are bold. You have to risk it to get the biscuit, you have to hold em, not fold em. Full disclosure, my portfolio not near where it was in December, but I am not selling, I am HODLing.

I am not a financial advisor, this is not financial advice. Invest at your own risk.

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