ETH/USD 2-17-20 THRU 2-21-20 : A VERY AMATEUR PROJECTION

17 feb 2020

I started building this chart at the BUY arrow. This is in NO way a suggestion to anyone as an investment strategy. I have recently began to study pretty heavily. I am 39 years old now and the future of commerce is suddenly very exciting for me. I would like to learn enough to be confident and perhaps become a major player someday. Crypto currency is especially intriguing for me because it has opened new doors for a global economy and I believe it will eventually bring us closer together as a global community and society. I'm curious now, to see how the market reacts this week after a Bear Attack of a weekend. My VERY amateur opinion is that there will be a strong correction by midweek across the board. I will happily accept any feedback or criticism as long as it is constructive. Thanks! Have a great week!

17 feb 2020

Commento

Well, I've been watching the candles for the 2 hours now. I am feeling a bit better about how I set this up, and the criteria I came up with to line it out this morning. The big question over the next 30 mins to an hour will be whether buyers push ETH past the downward trend line on this chart and I can feel a little more at ease sitting in my "softzone," -- or, will the sell off continue to follow the downtrend once prices reach the 253 marker again, as it was at the 3AM Chicago, Ill. time? I don't have even a wooden nickel riding on this but I'm still extremely anxious! Thoughts?

17 feb 2020

Commento

To be quite frank this is my first ever attempt at building a full projection model. That being said, I went into this idea with a fairly high level of confidence based on the knee jerk weekend reactions and the recent trend across the major players in crypto currencies. I wrote in my blog that I would have happily closed out the trade at 261.25. The 4 candles wicks that barely moved at the top for an hour put me in a sell mode. I still believe ETH will climb significantly higher but there will likely be a few nervous moments getting there. If I were to buy back in today I would have to see a strong base form at the 260 level first. Reiterating, this is all entirely a self-administered test and completely hypothetical. That being said, it feels pretty good to be correct in my analysis......so far.