That was probably the longest pause between the posts on this blog. The author isn’t on vacation. But looks like some of the biggest ETH traders are either enjoying the summer or (more likely) speculating on the other cryptomarkets.
Now, after local highs have been established in XMR (the craziest rise in the last weeks) and AMP (though one more high would fit better into the Elliott Waves count) and also FCT have built nice top. Ah, yes, LSK should also continue its drift down.
What does it mean for ETH?
Quite probable, the traders will switch back to ETH and BTC. These are still two most liquid and long-term “safe” investments.
Here is the updated chart for ETHBTC, which we followed for the last few weeks:
If you have already experienced how difficult “buying the lows and selling the highs” is – welcome!
You aren’t alone. It’s difficult for everyone. The author is addressing this and some other aspects of investing/trading.
This blog is written in an attempt to bring some cool reflective energy into the world of crypto trading. The bigger work is done on the santiment.net platform. Where we also have more money oriented approach.
Here, however, it was, is and will always stay for free. Use it for educational or recreational (kidding) purposes. Though sometime it might look like, but the articles here are not the trading advices.
Beside, you should also be aware that is very easy to lose everything in trading. Especially in crypto trading. High potential reward always come with high risk.
No new charts to add in ETH land. The tiger seems to be not very hungry. Or may be he is choosing the next target.
Talking about the targets. The cryptoinvestors have lately been active in pouring the money into different projects. Some of them seem to be pretty interesting, others are pretty much pump and dump and nothing more.
What all of them have in common, however, is the fact that they can also be implemented on Ethereum platform. Sometimes the author has a feeling that what we witness now is just a test-run. Unless big money and great product teams (not just tech people) will start implementing these ideas on Ethereum.
May be this is just a wish, as the author himself is also working on two projects at the moment. One of them was quite poorly executed on STEEM. The author believes it can be done better.
Once again the author only publishes an update to the most important chart on ETH (this time on the smaller scale):
Looks like today is the shortest update ever.
Have a nice weekend!
The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
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The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
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